First Home Buyers Mostly Active in $300,000-450,000 Price Range

By Andria Savva

If you're set on selling your real estate in Carnegie, it can be helpful to know the price ranges that different homebuyers are most interested in.

First home buyers make up around 20 per cent of home buyers, making up an important part of the market.

Analysis of sales data by the Real Estate Institute of Victoria (REIV) over the past five years revealed that these first home buyers have "mainly been active" in the price range of $300,000-400,000, particularly at the lower end of this scale.

The introduction of the First Home Owner Boost scheme in 2008 saw a surge in first home buyer activity, with the share of sales in the $300,000-$450,000 price bracket seeing an increase from 32 per cent to 27 per cent over this period (September 2008-June 2009).

When the Boost scheme was removed in early 2012, the number of first homeowner grants fell from more than 3,000 to 2,133 a year later. The share of sales in the $300,00-$450,000 price bracket also fell from 35 per cent to 30 per cent in this period.

REIV writes that now home buyer assistance has been reduced, the focus is turning towards the need for affordable housing.

Seek professional advice from Matthew Hurlston at Ray White Carnegie to make an informed decision on selling your Carnegie real estate.

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