In the May newsletter, we started looking at the options available for would be first home buyers trying get into the market in the face of rising property prices and generally without a large deposit.
I outlined 4 solutions:
1. Borrow up to 95% of the purchase price (if you can get one)
2. A gift of money [...]

Yesterday i posted REIV stats showing that median house prices in Melbourne continue to increase at a solid rate…hot on the heels of the REIV report came an interesting article in the Herald Sun (August 10, 2010), showing that prices of property in the $1M+ price range have fallen by 15% from their peak.  The [...]

The REIV has released the June quarter median prices which reveal that the median price of a house in Melbourne has increased by 8.5 per cent to $559,000 from a revised $515,000 in the March quarter.

From a Melbourne-wide perspective, the median price of a unit or apartment increased by 4.7 per cent from $442,525 to $463,215. This was a smaller increase than the 8.5 per cent recorded for houses in the quarter; however, demand in the unit or apartment market is proving more stable than it is in the house [...]

It has never been harder for first home buyers to get into the market. Australian property prices are at record highs and each week they go up further.
With property prices having gone up by between 20% in the last 12 months even the most diligent savings efforts by 2 young professionals (each on 6 [...]

Every one talks “equity” but most don’t really understand what it is and how it can be used. So at a time when property prices have jumped forward by somewhere between 5-20% in the last 12 months, I thought it might be useful to have a look at what “equity” is and how you can [...]

Some very clear trends have emerged in the marketplace over recent months, namely:

A comprehensive table showing the First Home Owners grants you may be able to claim depending on the date of the contract of sale is set out below.

The federal government on Tuesday announced an extension to the existing First Home Owners Grant programs which were due to expire on June 30th.
The Boost program, announced in the first Rudd Government stimulus package last year, will be extended for six months, three months at the full rate of $7000 for existing homes and $14,000 [...]

Interest rates might be down and the government might be giving first home buyers up to an extra $19,000 but getting finance for your first home has got far tougher in 2009.