January 5, 2025 - 21:43
Aussies hoping to get onto the property ladder this year have been warned to prepare themselves for fierce competition. As the housing market continues to evolve, first-home buyers are facing a daunting challenge in the form of an impending $138 billion property threat. Experts predict that the landscape for homeownership will become increasingly competitive, with potential buyers needing to navigate a market that is likely to see rising prices and increased demand.
The situation is particularly concerning for those looking to purchase their first home, as established buyers and investors are expected to dominate the market. This could lead to many first-time buyers being outbid and ultimately outpurchased, further complicating their journey toward homeownership.
With interest rates fluctuating and economic conditions shifting, aspiring homeowners are urged to be proactive. Strategies such as saving for larger deposits, exploring government assistance programs, and staying informed about market trends will be essential in overcoming the challenges ahead. As 2025 approaches, the urgency for first-home buyers to act decisively has never been greater.
