Suburbs that will soon be affordable for home buyers – but not for long

Suburbs that will soon be affordable for home buyers – but not for long

From next month, first home buyers can purchase a property on a low 5 per cent deposit using the First Home Guarantee Scheme, and avoid lenders’ mortgage insurance, up to a property price cap of $1.5 million in Sydney, $950,000 in Melbourne, $1 million in Brisbane or $850,000 in Perth.

Australian Home Prices Set to Rise

Australian home prices are projected to increase by approximately 5 to 6 per cent over the next two years, buoyed by reduced borrowing costs that are expected to stimulate home sales. However, Reuters’ recent poll of 15 property analysts suggests that affordability pressures could moderate these gains. The survey, conducted between August 18 and September 8, forecasts a 5 per cent rise in home prices this year, an increase from the 4 per cent an…