First home buyers’ struggles continue as the latest data from the Australian Bureau of Statistics (ABS) show that first home buyer financing was at its lowest point in 23 years for Victoria. First home loans represented a mere 11.76% out of 1,402 dwellings financed.
Several factors are pointed out as major deciding factors, including high property values, concession changes as well as the decision of most home buyers to rent. This major shift in the property sector has to be given serious attention, as more homes are built to accommodate investors rather than home owner occupiers.
Read more about this on the Property Observer website.
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