A Housing Industry Association shows a study of Australian Bureau of Statistics. The data presents that in 2008 exactly two-thirds of first-home buyers were below 35.
75.5 percent of these first timer home buyers are actually below under the age of 35 years old. Buyer aged 45 and above increase from 5.6 per cent to 6.7 per cent. According to HIA senior economist Ben Phillips that most of the buyer actually waits for them to mature or get in much older age to come up with the decision to buy new house. These First Home Buyers are increasing as they age of some of them are growing.
HIA also added the Federal Government’s First Home Owners Grant Boost that they have been expected the slipping down of the percentage last year, fortunately the long-term trend is probable to stay intact.
Fact is the increases on the price cost have been started since 1986. Up to $400,000 outstanding obligation for most of the Australian houses in 2008, as well as the above $150,000 median liability recorded in 1994. Because of the delay in home designs and home builders that is way they had to increase the prices.
Source: The Sidney Morning Herald News
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