First home buyer patsies plough into property market

According to Realestate.com.au, Australia’s first home buyers (FHBs) are unperturbed by the coronavirus outbreak and continue to pile into the property market, fueled by federal government subsidies and record low mortgage rates:

Realestate.com.au data revealed activity from first homebuyers – which hit a 10-year peak in December – remained high in the recent month despite uncertainty over how the virus would affect the market.

The listing group’s chief economist Nerida Conisbee said government benefits were proving a strong incentive for first-time buyers to stay active in the market…

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