Over 8,200 FHB's benefited from stamp duty savings between July-September 2018 - Low-end homes are holding up better than more expensive properties according to Domain data
First Home Buyers (FHB) are pouring into the property market, with Australia seeing the highest levels of FHB since 2008. While investors take a step back from the property arena, young Australian’s are stepping up to the plate, with Millennials leading the way. Between July & September, over eight thousand FHB's saved on stamp duty & concessions; solidifying the success of the recently introduced Government Incentives.
The Herald Sun released a report from ‘The BIS Economics Australian Housing Outlook for 2018-2021’ which predicts Melbourne & Sydney may experience a short-term dip in prices before rising again late in 2019. This brief window will be a great opportunity for those waiting to enter the market, to finally make a move.
Victorian growth areas will continue to populate and take shape, helping FHB’s to enter the market. The Age reports FHB have been particularly active in the North-West in suburbs such as Craigieburn, Donnybrook, Mickleham, Truganina, Tarneit, Werribee & Point Cook