by Rels 
Many future homebuyers are unaware of the government assistance that is available to them.
• Rels study reveals potential missed opportunities for first-time buyers
• Key findings from Rels’ recent housing market research:
– 40% of current renters are actively saving for their first home
– Young adults aged 25-34 are the most likely to be saving (64%)
– Sydney (42%) and Melbourne (40%) renters leading in savings efforts
• Recent changes in government incentives, as highlighted by Rels:
– South Australia pioneers by abolishing stamp duty for first home buyers
– Western Australia increases stamp duty exemption and concession thresholds
– Queensland raises transfer duty concession threshold
• Home Guarantee Schemes expand: 50,000 new places for low-deposit mortgages
– Rels professionals can guide buyers through these programs
• Compromises first-time buyers consider, according to the latest data:
– 60% are open to smaller homes in desirable areas
– 41% are willing to increase their commute distance
– 38% are ready to forgo amenities like backyards and garages
• Alternative strategies currently being explored by First home Buyers ,for entering the property market,
– 21% explore family loans
– 18% consider liquidating other investments
– 7% contemplate starting with an investment property (popular in ACT)
• Surprisingly, only 43% of potential buyers plan to use government assistance schemes
• Rels industry experts emphasize:
– Critical importance of understanding government grants
– Vital role of Rels professionals in educating potential buyers
– Necessity for creative thinking in today’s challenging housing market
• Advice for aspiring homeowners from Rels:
– Explore diverse pathways to homeownership
– Investigate government schemes and low-deposit options
– Seek guidance from Rels professionals to develop personalized strategies
• Rels offers comprehensive support through its network of professionals:
– Mortgage brokers to help navigate financing options
– Conveyancers to assist with legal aspects of property transactions
– Buyers agents to aid in property search and negotiation
– Real estate agents to provide market insights and listing information
• Consult with Rels professionals to navigate options and overcome homeownership barriers
• Rels’ team of experts is ready to assist with all homebuying enquiries, ensuring a smooth journey to property ownership
