The National Housing Finance and Investment Corporation (NHFIC) today released its fourth annual Home Guarantee Scheme (HGS)Trends & Insights Report, covering data on the First Home Guarantee (FHBG), Family Home Guarantee (FHG) and Regional First Home Buyer Guarantee (RFHBG) for 2022-23.
The report includes data insights during a challenging period for first home buyers with the rapid increase in interest rates impacting on housing affordability.
New information reveals the preferred locations of first-time home buyers in Australia.
The Home Guarantee Scheme Trends and Insights Report for the fiscal year 2023 by Housing Australia indicates a regional preference among first-time buyers. In New South Wales, the majority opted for homes inSydney’s southwest, specifically in the 2170 postcode area, encompassing Liverpool, Casula, and Warwick Farm, with 166 buyers utilising the scheme.
In Melbourne, the 3064 postcode, which includes Craigieburn, Donnybrook, and Mickleham in the outer north, attracted 177 buyers.
Mackay, a regional area in Queensland, saw the highest number of buyers nationwide with 286 purchases.
In South Australia, Smithfield recorded 55 sales, and Perth’s Armadale saw 219 sales.
Tasmania’s Devonport and Burnie each had 35 buyers.
The Northern Territory’s most popular location was Zuccoli, with 80 buyers, while Weston Creek in theACT had 67 buyers.
Angus Moore, a senior economist at PropTrack, comments on the trend, noting that first-home buyers are often limited by financial constraints, leading them to buy in more affordable, outer suburban areas.
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