Markets Favouring FHBs
A new report reveals the locations where softening market conditions mean properties may be more affordable.
The Property Pendulum report by Property Credit shows where there have been “tangible shifts” in favour of first-home buyers.
It analysed more than 300 markets for the availability and affordability of homes under $750,000 and looked at listing levels.
Locations in Victoria it identified include Latrobe Valley, which has 667 houses available for less than $750,000 and listings which are 26% higher than the 12-month average.
In Tasmania, Launceston has 319 houses for under $750,000 and listings are up by 17%, while in New South Wales, the Lower Hunter has 302 houses and listings are up 71%.
Maryborough in Queensland has 295 houses for sale under $750,000 and listings are 24% higher than the 12-month average.
Property Credit chief executive Giordano Stephancic says the overall market may seem challenging to first-home buyers, but the report shows there are still plenty of locations they can afford to buy in, particularly outside capital cities.
