PHOTO: First home buyers – FILE
First-home buyers now have a record share of the property market, according to a new report from property analyst firm CoreLogic.
The report shows for 2020 to date, first-home buyers now make up 24 percent of the market share, up from an average share of 21 percent, and a previous peak more than a decade ago of 23 percent.
CoreLogic senior property economist Kelvin Davidson said while it was still tough for first-home buyers, the report proved many were still finding a way in.
“It’s not easy, it never has been easy but what it’s showing is there’s still an appetite there to get into the market to get onto the property ladder and that market share is a record high.
“Despite all the challenges that are there, first-home buyers are clearly still pretty keen to buy.”
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