Jan 24, 2021 2:49:00 PM

First Home Buyers Dominate The Property Market

Topics: Selling, First Home Buyer, Home Loans 0

Buying a first home has been progressively harder over the years, largely due to rising house prices and lower affordability. But 2020 changed all of that. Buoyed by historic low interest rates, a lack of investors in market, and significant government incentives, first home buyers look set to dominate the property market in 2021.


Looking for affordable options

It’s been a bumper start to 2021, with a rising number of first home buyer enquiries across the country. Those taking up Government incentives are increasingly looking for property in outer suburbs where they can make the most of grants and discounts available to first home buyers.

The federal Government’s HomeBuilder scheme – targeting new builds – along with stamp duty reductions and the first home loan deposit scheme, which assists first home buyers with low deposits, has made it attractive for first home buyers to enter the market at this time. A lack of investors and record-low interest rates has added much needed breathing space and less competition, and experts expect first home buyer activity to continue over the coming months. 

More activity in outer suburbs

Recent changes to the HomeBuilder scheme saw the grant fall from $25,000 to $15,000 for new build contracts signed between January and March 2021. But property price caps in NSW and Victoria increased to $950,000 and $850,000 respectively, allowing more buyers access to the grant. 

Looking ahead, it’s likely the return of investors to the property market will lead to more competition for first home buyers, particularly in established and new housing areas. But outer suburbs with typically lower price points could prove more attractive for first time buyers. 

A good time to buy

For first home buyers looking to take that first step onto the property ladder, there may never be a better time than right now. Please get in touch with the Mortgage Express team if you’d like advice about accessing Government incentives and grants to buy your first home. Our team are already working with first home buyers, helping them into their own homes.

And a word of warning: We’re hearing a number of reports of scams operating in our industry and want to remind our customers that Mortgage Express brokers and their associates will NEVER email asking for money to be transferred into our account. If you receive emails from our brokers requesting money transfers, please get in touch with the broker by phone to confirm the request is legitimate. 


While all care has been taken in the preparation of this publication, no warranty is given as to the accuracy of the information and no responsibility is taken by Finservice Pty Ltd (Mortgage Express) for any errors or omissions. This publication does not constitute personalised financial advice. It may not be relevant to individual circumstances. Nothing in this publication is, or should be taken as, an offer, invitation, or recommendation to buy, sell, or retain any investment in or make any deposit with any person. You should seek professional advice before taking any action in relation to the matters dealt within this publication. A Disclosure Statement is available on request and free of charge.

Finservice Pty Ltd (Mortgage Express) is authorised as a corporate credit representative (Corporate Credit Representative Number 397386) to engage in credit activities on behalf of BLSSA Pty Ltd (Australian Credit Licence number 391237) ACN 123 600 000 | Full member of MFAA | Member of Australian Financial Complaints Authority (AFCA) | Member of Choice Aggregation Services.