First Home Buyer Loans

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Buying your first home can be very exciting, but also a bit stressful. It is one of the biggest purchases of your life. With interest rate cuts and more predicted to come, now is a great time to give the Australian Lending Centre a call to help make your dream a reality with first home buyer loans.

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With all the buzz around interest rate cuts this year, now is a great time for first home buyers to get into the property market. With house prices in Australia highly volatile right now, you don’t want to miss out on the opportunity of owning your own home. Check out the Government First Home Buyers Grants designed to help with the challenge of getting into your first home, for which you may or may not be eligible.

Our friendly and experienced team are ready to help you every step of the way to make your first home buying experience a great one.

Government First Home Owners' Grants

The Australian Federal Government has a set of incentives to help out first home buyers. For your first purchase of an established home, you will receive a grant of up to $7,000, and for the building or purchase of a newly constructed home, you may be eligible for other grants.

State governments offer different concessions for first home buyers. To see how much you may be eligible to receive, please select from the following states applicable to you:

2021 Australian Property Market

Last year, there was doom and gloom all over the media when it came to 2021 house prices, with reports that prices would plummet due to the pandemic. Australian home values have fell by just 1.7%. It is important to note that as of November 2020, Melbourne housing values remained around 5.4% below their recent high, and Sydney housing values are still 4.8% below their 2017 peak.

With Australia’s success in preventing the spread of the virus and now with vaccination taking place, along with the RBA’s low cash rate, housing prices are booming again.

Mortgage repayment deferrals played a big part as a temporary hold preventing ongoing mortgage arrears leading to forced sales. People who didn’t want to part with their homes during the economic uncertainty didn’t have to. Low levels of stock on market probably helped to protect house prices values.

Please remember, households in debt will have to pay for the moratorium on mortgage repayments. There will be unpaid interest still accruing on your home loan, and those households who deferred repayments will need to pay this in the future.

Source: Core Logic “Why didn’t the Australian housing market crash?” Eliza Owen (30 Nov 2020)

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