Out-bid and blue: 61% of first home buyers missed out on the home they wanted
Most first home buyers lose out on properties they want despite having the funds due to huge competition, according to a report by Finder.
Finder's First Home Buyer Report 2025 – based on a survey of 1,006 first home buyers in Australia – revealed a whopping 61% have missed out on a property they were seriously considering.
Being outbid by a competing buyer is the most common reason, affecting 1 in 3 (33%).
Almost 1 in 4 (23%) didn't get the property they wanted because another buyer made an unconditional offer (agreeing to buy the property without contingencies).
A further 11% lost their chance because they couldn't secure pre-approval from their lender in time, while 7% missed out because a competitor offered a shorter settlement period.
Sarah Megginson, personal finance expert at Finder, said the majority of first home buyers are beaten to properties they wanted.
"Securing a first property can be a very frustrating and exhausting process that drags on for months on end, which is why it's so disappointing when you're pipped at the post.
"When nearly two-thirds of buyers are missing out on properties they're serious about, it's a clear sign that the market is stacked against new entrants.
"With only a few houses to choose from at an affordable price, buyers are often competing for the same properties.
"As budgets get stretched, buyers resort to whatever it takes to secure their dream property."
To help Australians have a better chance of cracking the property market, Finder is next week hosting a free, online First Home Buyer Masterclass.
Participants will be guided through how to turbocharge their deposit, get approved for a loan easily and quickly, and get prepared for property ownership.
Megginson said being prepared can make all the difference when the right property does come along.
"That's why we're hosting this free masterclass – to help buyers understand the process, avoid common pitfalls, and improve their chances of success.
"Our expert panel is going to share some of the steps you can take to have a competitive advantage over other buyers and hopefully, be in the category of first home buyers who get to sign a contract and secure their home."
Finder's report shows almost half (42%) of first-time buyers who secured finance missed out on a property they were seriously considering 2 or more times, while 1 in 5 (20%) had this happen on at least 3 properties.
Sign up to Finder's First Home Buyer Masterclass here.
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