{"id":34294,"date":"2021-08-31T18:43:14","date_gmt":"2021-08-31T06:43:14","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=34294"},"modified":"2021-08-31T18:43:14","modified_gmt":"2021-08-31T06:43:14","slug":"2-7-million-sydney-sale-shows-just-how-screwed-first-home-buyers-are-right-now","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/2-7-million-sydney-sale-shows-just-how-screwed-first-home-buyers-are-right-now\/","title":{"rendered":"$2.7 MILLION SYDNEY SALE SHOWS JUST HOW SCREWED FIRST HOME BUYERS ARE RIGHT NOW"},"content":{"rendered":"<p><strong>PHOTO: First home buyers<\/strong><\/p>\n<p>At this point, we\u2019re starting to sound like a bit of a broken record when it comes to whinging about Australia\u2019s (and specifically Sydney\u2019s) problem with housing affordability. But this property sale in the Harbour City\u2019s bohemian Inner West really demonstrates just how bad the problem really is.<\/p>\n<p><a href=\"https:\/\/www.domain.com.au\/164-belmont-street-alexandria-nsw-2015-2017190340\">164 Belmont St<\/a>, a modern four-bedroom terrace-sized home in Alexandria, went under the hammer at an online auction and sold for an unprecedented $2.68 million to a young couple from Paddington who happened to be first home buyers,\u00a0<a href=\"https:\/\/www.domain.com.au\/news\/sydney-online-auctions-first-home-buyers-pick-up-alexandria-house-for-2-683-million-1084157\/\"><em>Domain<\/em><\/a>\u00a0reports.<\/p>\n<blockquote class=\"tiktok-embed\" cite=\"https:\/\/www.tiktok.com\/@propertynoise\/video\/7001014048691211522\" data-video-id=\"7001014048691211522\" data-embed-from=\"oembed\" style=\"max-width: 605px;min-width: 325px;\" >\n<section> <a target=\"_blank\" title=\"@propertynoise\" href=\"https:\/\/www.tiktok.com\/@propertynoise?refer=embed\">@propertynoise<\/a> <\/p>\n<p>Always working&#8230; <a title=\"rugbybricks\" target=\"_blank\" href=\"https:\/\/www.tiktok.com\/tag\/rugbybricks?refer=embed\">#rugbybricks<\/a> <a title=\"rugby\" target=\"_blank\" href=\"https:\/\/www.tiktok.com\/tag\/rugby?refer=embed\">#rugby<\/a> <a title=\"viral\" target=\"_blank\" href=\"https:\/\/www.tiktok.com\/tag\/viral?refer=embed\">#viral<\/a> <a title=\"nzrugby\" target=\"_blank\" href=\"https:\/\/www.tiktok.com\/tag\/nzrugby?refer=embed\">#nzrugby<\/a><\/p>\n<p> <a target=\"_blank\" title=\"\u266c original sound - Property Noise Group\" href=\"https:\/\/www.tiktok.com\/music\/original-sound-7001013990528682754?refer=embed\">\u266c original sound &#8211; Property Noise Group<\/a> <\/section>\n<\/blockquote>\n<p> <script async src=\"https:\/\/www.tiktok.com\/embed.js\"><\/script><\/p>\n<p>It\u2019s a big sale, considering the property last traded in 2017 for $2.275 million and that the median Alexandria house price sits at $1.85. But it\u2019s not necessarily the price tag that\u2019s interesting \u2013 it\u2019s the fact that it was first home buyers who ended up securing the place.<\/p>\n<p>Okay, it\u2019s\u00a0<em>possible<\/em>\u00a0that the young couple had \u2018<a href=\"https:\/\/propertynoise.co.nz\/au\/?s=The+Bank+of+Mum+and+Dad&amp;submit=Search\">The Bank of Mum and Dad<\/a>\u2019 backing them (if you\u2019re from Paddington these days, you\u2019re probably not too hard up for cash) and Alexandria is hardly Sydney\u2019s most affordable suburb, that\u2019s almost irrelevant. The sale just goes to show how far first home buyers occasionally have to go in order to get into the property market.<\/p>\n<div id=\"attachment_300330\" class=\"wp-caption alignnone\"><b class=\"content-image-wrapper\"><img fetchpriority=\"high\" decoding=\"async\" class=\"wp-image-300330 size-medium lazy-load-image\" src=\"https:\/\/www.dmarge.com\/wp-content\/uploads\/2021\/08\/alexandria-home-3-920x613.jpeg\" sizes=\"(max-width: 920px) 100vw, 920px\" srcset=\"https:\/\/www.dmarge.com\/wp-content\/uploads\/2021\/08\/alexandria-home-3-920x613.jpeg 920w, https:\/\/www.dmarge.com\/wp-content\/uploads\/2021\/08\/alexandria-home-3-1200x800.jpeg 1200w, https:\/\/www.dmarge.com\/wp-content\/uploads\/2021\/08\/alexandria-home-3-375x250.jpeg 375w, https:\/\/www.dmarge.com\/wp-content\/uploads\/2021\/08\/alexandria-home-3-768x512.jpeg 768w, https:\/\/www.dmarge.com\/wp-content\/uploads\/2021\/08\/alexandria-home-3-1536x1024.jpeg 1536w, https:\/\/www.dmarge.com\/wp-content\/uploads\/2021\/08\/alexandria-home-3.jpeg 1800w\" alt=\"\" width=\"920\" height=\"613\" aria-describedby=\"caption-attachment-300330\" data-src=\"https:\/\/www.dmarge.com\/wp-content\/uploads\/2021\/08\/alexandria-home-3-920x613.jpeg\" data-srcset=\"https:\/\/www.dmarge.com\/wp-content\/uploads\/2021\/08\/alexandria-home-3-920x613.jpeg 920w, https:\/\/www.dmarge.com\/wp-content\/uploads\/2021\/08\/alexandria-home-3-1200x800.jpeg 1200w, https:\/\/www.dmarge.com\/wp-content\/uploads\/2021\/08\/alexandria-home-3-375x250.jpeg 375w, https:\/\/www.dmarge.com\/wp-content\/uploads\/2021\/08\/alexandria-home-3-768x512.jpeg 768w, https:\/\/www.dmarge.com\/wp-content\/uploads\/2021\/08\/alexandria-home-3-1536x1024.jpeg 1536w, https:\/\/www.dmarge.com\/wp-content\/uploads\/2021\/08\/alexandria-home-3.jpeg 1800w\" \/><\/b><\/p>\n<p id=\"caption-attachment-300330\" class=\"wp-caption-text\"><em><strong><span class=\"cap-text\">164 Belmont Street from the street. Admittedly, it\u2019s the nicest house in the nicest complex on the street. Image Credit: Domain<\/span><\/strong><\/em><\/p>\n<\/div>\n<p>According to\u00a0<a href=\"https:\/\/www.finder.com.au\/first-home-buyers-report-2021\">Finder\u2019s 2021 First Home Buyers Report<\/a>, which came out in May, the average first home buyer in Australia takes out a loan of $431,525. A buyer with a typical loan-to-value ratio (LVR) of 80% would pay an average deposit of $107,881. Since 2019, this figure has climbed 15% nationwide, comfortably exceeding inflation over the same period.<\/p>\n<p>READ MORE VIA <a href=\"https:\/\/www.dmarge.com\/2021\/08\/2-7-million-sydney-property-sale-first-home-buyers.html\">DMARGE<\/a><\/p>\n<p>https:\/\/www.instagram.com\/p\/CTLXiWKFicK\/?utm_source=ig_web_copy_link<\/p>\n<h3 class=\"widget-title\"><span class=\"accent-typo\">MOST POPULAR<\/span><\/h3>\n<ul class=\"widgets-list-layout no-grav\">\n<li><a class=\"bump-view\" title=\"Top real estate agent faces drug charge\" href=\"https:\/\/propertynoise.co.nz\/au\/top-real-estate-agent-faces-drug-charge\/\" data-bump-view=\"tp\"><img decoding=\"async\" class=\"widgets-list-layout-blavatar lazyloaded\" src=\"https:\/\/i0.wp.com\/www.propertynoise.com.au\/wp-content\/uploads\/2021\/08\/Warren-Ginsberg.jpg?fit=827%2C465&amp;ssl=1&amp;resize=40%2C40\" alt=\"Top real estate agent faces drug charge\" width=\"40\" height=\"40\" data-pin-nopin=\"true\" 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home<\/a><\/div>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PHOTO: First home buyers At this point, we\u2019re starting to<span class=\"more-link\"><a href=\"https:\/\/propertynoise.co.nz\/au\/2-7-million-sydney-sale-shows-just-how-screwed-first-home-buyers-are-right-now\/\">Read More &rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":19208,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478110540,478117760,478117759,478117758,478098730,478098512,478098521,478098566,478104165,478098519,478100387,478098535,478099785,478113044,478099220,478098873,478098579,478098510,478098514,478098511,478098705,478098533,478098828,478098509,478098536,478107134,478098618,478115169,478117762,478117761],"class_list":["entry","author-data123nz","post-34294","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-alexandria","tag-alexandria-house-price","tag-alexandria-property","tag-alexandria-real-estate","tag-auctions","tag-australia","tag-australians","tag-first-home-buyers","tag-greater-sydney","tag-home-ownership","tag-hot-sydney-market","tag-house-prices","tag-houses-in-sydney","tag-loan-to-value-ratio","tag-paddington","tag-property-investment","tag-property-market","tag-property-news","tag-propertynoise","tag-real-estate","tag-real-estate-agency","tag-real-estate-agent","tag-real-estate-agents","tag-real-estate-news","tag-sydney","tag-sydney-agency-sector","tag-sydney-property","tag-sydney-real-estate-prices","tag-sydney-sale","tag-the-bank-of-mum-and-dad"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>$2.7 MILLION SYDNEY SALE SHOWS JUST HOW SCREWED FIRST HOME BUYERS ARE RIGHT NOW - Property News Australia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/propertynoise.co.nz\/au\/2-7-million-sydney-sale-shows-just-how-screwed-first-home-buyers-are-right-now\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"$2.7 MILLION SYDNEY SALE SHOWS JUST HOW SCREWED FIRST HOME BUYERS ARE RIGHT NOW - Property News Australia\" \/>\n<meta property=\"og:description\" content=\"PHOTO: First home buyers At this point, we\u2019re starting toRead More &rarr;\" \/>\n<meta property=\"og:url\" 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