The property market can feel like it’s on a never ending roller coaster, making those looking to enter the property market a little confused about when to opt in and when to wait. The truth is, there is never one single sweet spot for the perfect buying market environment… but, right now is getting pretty close to it for first home buyers, according to NSW Premier Gladys Berejiklian and Treasurer Dominic Perrottet.
Coinciding with the Australian Bureau of Statistics revealing that housing finance approvals in NSW for first home buyers have risen by 74% (the highest by state), the state government is backing the first home buyer as big contenders for entering the property market far more easily than ever before.
Recently, the state Premier and the Treasurer announced a big shift in the property buying market with a positive lean toward accessibility for new home buyers in particular.
“I’m happy to report in NSW, first home buyers are back in the game,” she said. “We’re doing everything we can as a government to make housing more affordable, especially people getting into the market for the first time.”
The positive comments come off new data showing that there has been a drastic increase in first home buyers successfully entering the market, compared to a year ago. Today, one in four home purchasers are first home buyers, compared to one in 10 this time last year. The boost has been credited to reforms put in place last year restricting foreign investments and broadening stamp duty concessions.
“We’re thrilled with the result,” Berejiklian said.
Her sentiments were backed by NSW Treasurer Dominic Perrottet who continued to be optimistic about young Australian families getting their place at the real estate table now.
“The great Australian dream is to buy your first home and we’re seeing first home buyers storm back into the market here, especially in NSW.”
This greater concentration on supporting first home buyers is one Clarendon has been proudly focussed on for many, many years and will continue to do so. Our continued growth of house and land package options, in burgeoning areas with commute infrastructure actively in place to ease the burden of balancing home ownership with a CBD career, is a passionate project of ours.
To see our house and land offerings, including ‘move in now’, wander through our estates and the beautiful homes on offer. It could be the answer to your family living in a spacious and new home, without lifestyle sacrifice.
Discover our house and land packages today!