First Home Buyers Report 2021
The COVID-19 pandemic gave rise to an economic crisis and a host of lifestyle changes. While Australia's housing market was forecast for a downturn, it did exactly the opposite. The low cash rate and resulting low cost of borrowing contributed to a surge in home loans alongside rapidly escalating house prices. The property boom was greatest among first home buyers who are taking advantage of cheap interest rates to jump on the property ladder.
Finder's First Home Buyers Report 2021 explores the state of the first home buyer market. We conducted a survey of 1,028 first home buyers across the country to understand who they are, how they are financing their homes and what they're looking for, and we analysed the implications of current economic conditions for buyers and the property market. Finally, we sought advice from Finder's property experts on how first home buyers can make the most of their situations and get into the market.
Click here to read the full report.
The state of Australia's first home buyers market
- As of March, the total value of first home buyer loans sits at $7.0 billion, a 66% year-on-year increase.
- The average first home buyer loan size is $431,525. For all owner-occupier buyers, the average loan size is $511,612.
- The total value of sales has increased year-on-year in all capital cities, with Brisbane (107%), Adelaide (86%) and Perth (76%) leading the way.
- Sydney has the highest median property price ($862,500), followed by Melbourne ($710,000).
Key report findings
First Home Buyers Report media coverage
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