Sydney Today, March 3, Australian Eastern Time, if Sydney is the place with the highest housing prices, first-time buyers in the Sydney property market should face huge barriers to entry. But according to housing loan data from the Australian Bureau of Statistics, this is not the case. Many first-time home buyers still have a way to enter the market.
In the past few years, although Sydney is the capital city with the highest housing prices in Australia, the number of first-time home buyers in the Sydney property market has been leading. Data for the December quarter showed that the average house price in Sydney was 12, nearly $636,822 higher than Melbourne's 538,448.
In the past three years, Sydney’s real estate market has experienced two waves of first-time buyers. The first wave was that the state government wanted to stimulate the weakened real estate market due to the financial crisis. The first-time-buyers subsidy policy promulgated to increase the number of first-time buyers . Between November 2008 and December 11, there were 2009 newly approved mortgage houses in New South Wales, a 12% increase over the previous 67125 months and a higher number than 14 in Victoria a lot of.
The ratio of first home buyers to total loans in New South Wales in 2009 was listed as 30.5%, which is also the highest among all capital cities, and the amount of loans per household is also higher than in other cities, from $281900 at the beginning of the year to 2009 317,000 at the end of the year.
The latest data from ABS shows that in January 2012, the number of new mortgage loans in New South Wales was 1, which shows that even if the government abolishes the stamp duty concession for first-time home buyers, first-time home buyers still have a way to enter the property market. It seems that home ownership is still achievable for many Sydneysiders.