With more homeowners considering a sale before Christmas than last year, there's little doubt there will be opportunities the spring for all buyers, whether first-timers, upgraders, or downsizers for that matter, to secure a quality, well-located property. 

 We're seeing more properties come onto the market – 11% more than last year[i]. So, there's no shortage of opportunities to find your dream home.

 In a new trend, many homeowners are cashing in on the incredible gains made during the pandemic, when home values skyrocketed to 47%[ii]. 

 That's left Australians sitting on massive store of home equity, and across the Raine & Horne network Australia wide we've seen a more than 40% jump in appraisals in August 2022 compared to the previous month last year. It seems the savvy homeowners want to take the profits made over the last two year, which will create more opportunities for buyers including first timers.

 First-home buyers have an excellent opportunity to get into the market this spring. And with rents soaring 17% over the past year[iii]it's time to get serious about buying a place of your own. 

 Better still, first-timers can also tap into some generous government support to land a property. The First Home Guarantee (FHBG) is part of the Home Guarantee Scheme, an Australian Government initiative to support eligible first home timers get into a home sooner. 

 Administered by the National Housing Finance and Investment Corporation (NHFIC) on behalf of the Australian Government, the FHBG is part of an eligible first home buyer's home loan from a participating lender. As NHFIC guarantees part of the loan, an eligible home buyer can purchase a home with as little as 5% upfront without paying thousands of dollars in additional Lenders Mortgage Insurance [insert link: https://www.raineandhorne.com.au/news/homeowners-buyers/what-is-lenders-mortgage-insurance].

 Any home loan guarantee is for up to a maximum amount of 15% of the property's value (as assessed by your lender). This guarantee is not a cash payment or a deposit for a home loan, and to find out more, contact a financial specialist such as Our Broker today on 1800 913 677.

 With spring fever hitting the market, there has never been a better time to for first home buyers to speak to a local Raine & Horne property expert – and start kicking some property goals today.

[i] https://www.corelogic.com.au/__data/assets/pdf_file/0019/12259/2208-CoreLogic-home-value-index-Sep-22-FINAL.pdf

[ii] https://www.corelogic.com.au/__data/assets/pdf_file/0019/12259/2208-CoreLogic-home-value-index-Sep-22-FINAL.pdf

[iii] https://sqmresearch.com.au/11_08_22_National_Vacancy_Rate_2022_FINAL.pdf