Will COVID produce the opportunity of a generation for first home buyers?

Will COVID produce the opportunity of a generation for young people desperate to crack the housing market?

 

Decades of surging house prices have created some intense intergenerational debates around fairness, with Median home prices increasing to more than seven times the median incomes today.

 

There were pandemic predictions that prices could fall by up to 30% however most banks have scaled back their predictions to a 10% drop.

 

So with mortgage freezes and job keeper stopping in September, is this the time for first home buyers to get into the market?

 

 

In todays headlines:

• Labor in crisis mode as heads roll over branch stacking scandal.
• How the AFL could have stopped the Adam Goodes racism row
• Uni to offer entry without an ATAR/Ranking score due to Covid-19
• Infamous nightclub fined for hosting event and breaching Covid-19 rules

 

 

In todays episode we ask: Is the right time for first home buyers to jump into the market? Will the incentive schemes around first home buyers entice people to hire tradies? When do we jump in? Are we seeing any signs of the predictions that prices could fall by up to 30%? Will the September Cliff be a reality? What sort of property doesnt lose it value? How does the First home loan deposit scheme work?

 

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