{"id":25642,"date":"2020-06-07T13:13:55","date_gmt":"2020-06-07T01:13:55","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=25642"},"modified":"2020-06-07T13:13:55","modified_gmt":"2020-06-07T01:13:55","slug":"burbs-first-homebuyers-can-afford-again","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/burbs-first-homebuyers-can-afford-again\/","title":{"rendered":"\u2018Burbs first homebuyers can afford again"},"content":{"rendered":"

PHOTO: Josh Welsch, 24, and Marie Butera, 22, recently bought their first home in Dee Why. Picture: Flavio Brancaleone Source: News Corp Australia<\/em><\/span><\/strong><\/p>\n

Due to the COVID-19 pandemic, property prices<\/a> are coming down and opening up all sorts of\u200a \u200adesirable suburbs to first-time buyers who thought they\u2019d be locked out the market forever.<\/p>\n

Suburbs that were once an impossible dream for first-home buyers<\/a> are now within reach as the COVID-19 pandemic drives down prices.<\/p>\n

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Sales data analysis revealed prices in nearly 20 suburbs across Sydney will drop below the magic mark of $650,000 by 2021 if values fall by the 10 per cent predicted by many economists and banks.<\/p>\n

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\"Kath<\/a><\/div>\n
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Very noice! Kath & Kim star Jane Turner puts her five-bedroom Melbourne mansion on the market for a record-breaking $8million<\/a><\/h2>\n<\/header>\n

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A purchase price of less than $650,000 allows first-home buyers to avoid paying stamp duty.<\/p>\n

Typical stamp duty charges on a home priced between $600,000 and $650,000 would be more than $20,000.<\/p>\n

\u201cThere\u2019s plenty of good news for first-home buyers,\u201d My Housing Economist Andrew Wilson said. \u201cPrices look set to come down and, with record low interest rates, it will mean housing becoming much more affordable.\u201d<\/p>\n

Mortgage Choice\u2019s James Algar said first homebuyers were also benefiting from a drop in competition for properties.<\/p>\n

READ MORE VIA NEWS.COM.AU<\/a><\/p>\n

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