First home buyers are targeting Sydney’s West as the best location to secure the great Australian dream. Affordability in these areas means there is renewed interest from first home buyers, especially those that may have missed out a year ago.
“The exclusive data from St George revealed seven of the top 10 suburbs where first home buyers had purchased in the past year to October are in western Sydney, with St Marys, Liverpool, Penrith, Campbelltown, Toongabbie and Wentworthville all included.”
“Over $9 million in grants and exemptions were handed out in the Liverpool postcode, data from finder.com.au revealed, the most in any Sydney region.”
Original article: The Daily Telegraph, October 20, 2018
Realestate.com.au chief economist Nerida Conisbee was also quoted as saying that “it was clear first home buyers were sticking to areas they could receive incentives, as they almost had the market to themselves”.
Stewart Cowan and Riani Simpson recently purchased their first home in the Liverpool region, taking advantage of the market to move into an area that was previously unaffordable, suggesting the market has tipped in favour of first home buyers. With a budget of around $650,000, the pair were competing against other first home buyers but felt the savings on stamp duty gave them an advantage over investors.
For the original article as it appeared in The Daily Telegraph, click here.