First-home buyers surge back for a foothold as market rises

Original article by Nila Sweeney, Larry Schlesinger
The Australian Financial Review – Page: 29 : 7-Nov-19

Real estate developers note that their recent land releases in new housing estates have attracted strong demand among people who are buying their first home. Nigel Edgar of Frasers Property says first-home buyers now account for 35-45 per cent of its sales, compared with just 15 per cent when the residential market was at its peak in 2017. Likewise, Luke Fryer of Metricon says sales to first-home buyers increased by 25 per cent in the three months to September. Off-the-plan apartments are also attracting interest among first-home buyers.

CORPORATES
FRASERS PROPERTY AUSTRALIA PTY LTD, METRICON HOMES, HIGHLAND PROPERTY GROUP, VIRGATE, WOLFDENE, BIS OXFORD ECONOMICS PTY LTD, JINDING DEVELOPMENTS

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