Evidence that Sydney and Melbourne house prices are easing is a good sign for young people seeking to get into the market, says Federal Treasurer Scott Morrison.
He says that the softening in the housing markets in Sydney and Melbourne is welcome and not a sign of falling confidence.
Morrison says measures by the financial regulator to take the heat out of prices in the two biggest cities have been good for young people seeking to buy their first home and get their foot in the door.
It comes at a time when the percentage of new home loans going to first-home buyers has risen to above the long-term average of 17%. As well, growth in new loans to owner-occupiers is running at four times the rate for investors.
“The very careful, calibrated steps we have taken to get a soft landing in the housing market … have led to a much more stable place for the housing markets to move from here,” Morrison says.
If you are considering buying your first home and would like to make a move whilst the markets have softened, come in for a Planning & Strategy Session.
By attending a one-hour valued at $295 (yours for free if you register now) you will:
- Get a clear idea of your current situation and how you’re tracking financially
- Find out what you need to start doing now to buy your first home and achieve your financial goals
- Gain insight into investment opportunities and/or strategies that are best suited to your personal circumstances
This strategy session will open your eyes up to your full financial potential and demonstrate the options that are available to you. Click here to read more.