Are First Home Buyers Conceding Home Ownership By Renting?
Dorian Traill2023-03-03T00:01:37+10:00Median house prices have reached a record high for all capital cities, increasing to $681,640 for the month of October making houses out of reach for First Home buyers. In a recent study by PRDnationwide, the average First home buyer in Melbourne can only afford spending around $400,000, way below than the current house median price of $715,694. But is this really all there is to the story? News of unaffordability have been widespread that First home buyers are losing hope and opted to rent. Looking at the situation closely reveals that the median price would mean that there are [...]