5 Reasons Millennial Home Buyers Should Take Advantage of the Current Market

Tuesday 23 Jul 2019

Millennials and younger first home buyers may not yet have seen the urgency, but anyone on the fence should get off the sidelines and seize their opportunity to buy now, before the Morrison Government’s First Home Loan Deposit Scheme starts on 1 January 2020.

With record low interest rates and more cuts on the way, substantial stamp duty concessions available, and the federal government's 5% deposit scheme just months away from implementation, first home buyers should find the confidence to enter the market as soon as possible.

The Government’s First Home Loan Deposit Scheme will be available to 10,000 would-be homeowners in 2020, however with the Australian Bureau of Statistics indicating January 2019 saw 8,500 first home buyers step onto the property ladder, the chances are high that many first home buyers will have missed out on the scheme before the end of February 2020.