In fact it seems when the going gets tough in the Aussie property market, the tough get going in one of three potential directions.
Here are #3 trends that are becoming mainstays of the Aussie home buying journey for an increasing number of first timers.
- Help from the bank of mum and dad: A whopping 40 per cent of Aussie first time buyers are relying on their parents for help to buy a home. That’s up from 15 per cent in the 1980s. In fact one study showed that a gift of $10,000 or more from family made a first home purchase 90 per cent more likely, reports Domain.
- Moving further out from the inner city: Over roughly the past decade there has been an increase in the proportion of younger buyers living more than 25km away from the Brisbane CBD, reports realestate.com.au. Meanwhile the proportion of young people living 2km to 8km from the city has dropped.
- Higher density housing: Brisbane’s median house price per square meter has just about doubled in the past decade from $695 to $1341 reports Domain. This means seeking a smaller block size or floor area is likely a faster path to home ownership.
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