BackMost Australian First Home Buyers Using 5% Deposit Scheme, Many Above Previous Income Caps

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Guardian World1d agoReal_estate

Most Australian First Home Buyers Using 5% Deposit Scheme, Many Above Previous Income Caps

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Australia's 5% deposit scheme for first home buyers is being widely used, with a significant portion of new participants earning above the previous income caps.
Economists suggest this has inflated property prices by increasing buying capacity for those who would have purchased anyway.

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Australia's 5% deposit scheme for first home buyers is being widely used, with a significant portion of new participants earning above the previous income caps. Economists suggest this has inflated property prices by increasing buying capacity for those who would have purchased anyway.

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Australia's government-backed 5% deposit scheme is predominantly used by first home buyers, with a third of new participants exceeding previous high-income caps. Economists warn this expansion, intended to ease entry, has inflated property prices by boosting buying capacity for those who would have bought anyway.

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Most Australian First Home Buyers Using 5% Deposit Scheme, Many Above Previous Income Caps

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