Apartments remain the top choice for NSW first home buyers
Affordability continues to shape how first home buyers enter New South Wales' property market, with apartments and townhouses remaining the preferred path into home ownership.
InfoTrack's latest NSW Market Update shows 76.7% of first home buyer purchases in the June quarter were strata properties, as affordability continues to steer buyers towards this type of housing. Houses accounted for just 21.7% of first home buyer purchases, while Parramatta retained its position as NSW's leading destination for first home buyers. Fairfield also emerged as a significant new entrant, highlighting the appeal of more affordable locations within the Sydney property market.
The figures suggest many first home buyers are adapting their expectations rather than delaying their purchase altogether. Choosing an apartment or townhouse can be a practical way to enter the market sooner, build equity and create opportunities to upgrade in the future.
With a range of government support measures and lender options available for eligible first homebuyers, securing the right finance strategy can make entering the property market more achievable.
About the author – Alex Veljancevski is a Sydney Mortgage Broker with Eventus Financial, which assists first home buyers, investors, upgraders and borrowers seeking to refinance to a better deal on their home loan.
