New research from consumer comparison site Mozo found young Australians will be forced to save for an extra six months to 1.2 years before they can afford to put a deposit on a standard starter home, depending on where they live.
Anna Porter reassured The New Daily that even under these more trying circumstances, good homes are still within young buyers’ grasps.
Buyers may need to adjust their expectations.
Ms Porter said that, in the current market, first-home buyers should be looking to buy:
- Properties in need of renovation or work
- Cheaper properties than what they expected to buy
- Properties further out from than city than initially planned
You can read the full article here: https://thenewdaily.com.au/finance/property/2020/06/06/first-home-buyers-pandemic/