Market update: Navigating a hot property landscape
Description
In a recent episode of the First Property Buyer Show, hosts Emilie Lauer and Liam Garman explore the challenges and opportunities facing first-time Australian property buyers amid a rapidly changing market.
First-time buyers are entering a highly active market driven by fluctuating prices and the new First Home Guarantee Scheme, which has sparked urgency and FOMO among buyers.
The hosts note that growth was not uniform across Australia, highlighting affordable options in certain cities and regions.
They emphasise the importance of strategic buying, cautioning against overextending financially and paying above market value, and discuss strategies like rentvesting, which allow buyers to enter the market without compromising lifestyle.
The hosts also stress maintaining a financial buffer for unexpected costs, such as repairs or strata levies, even when benefiting from government schemes.
Recent market trends show strong price growth across major cities, with apartments becoming increasingly popular due to affordability and lifestyle considerations, though buyers must account for additional costs like strata fees and GST.
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