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First Home Buyers Report 2021
Finder provides insights on how first home buyers are faring in today's climate.
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.
Sophie Wallis is a senior insights analyst with a passion for data storytelling. She spends her time turning complex data into digestible stories and uncovering new consumer trends. When she isn't working, you'll find her planning her next overseas holiday or bingeing on a big novel. Sophie has a Bachelor of Economics from the University of Melbourne.
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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.
