Beware new ‘move in now, pay later’ property gimmick

Thursday 10 February 2022

In a sign Sydney’s property has hit peak stupid, a new Afterpay-style ‘move in now, pay later’ scheme has been launched to help first home buyers (FHB) get a foothold in the market:

How does it work?

To buy a $1 million home, you pay an upfront fee of $25,000, which is a fraction of the $200,000 deposit you’d need to avoid lenders mortgage insurance.

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.