First home buyers are racing to buy — but rising prices put home ownership ‘further out of reach’ – ABC News

First home buyers are helping prop up the property market during a pandemic but a feedback loop is emerging where rising prices are simultaneously making it harder than ever for some to buy their first home.
Key points:

• Home loans for first home buyers are at their highest level since 2009
• Some first home buyers are taking advantage of low interest rates and government schemes
• Prices are rising despite downturn predictions which makes it harder for lower income buyer

Despite initial predictions that…

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