Despite the number of market challenges currently facing first home buyers, RP Data says now is good time to buy.
RP Data’s national research director Tim Lawless told Smart Property Investment today that residential market conditions were beginning to transition out of the growth cycle and moving more in favour of buyers.
“Clearance rates have dropped below 60 per cent for most of this year, which suggests we are moving away from the days of steep competition for property and moving towards the day of the home buyer,” Mr Lawless said.
“For vendors who are considering auctioning their home, it is essential that the home is adequately marketed to ensure as many prospective buyers are aware of the auction as possible.”
So if you are considering purchasing your first home in the near future, why not start looking now.
Click here to access our property data portal to find out what suburbs are performing the best and which ones are offering the best bargain buys.