Low Deposit Home Loans to Support Younger Buyers Accessing Property
Anglicare Australia's 'Falling Behind' report reveals that home ownership among younger Australians has fallen to levels not seen since the 1940s, highlighting how much harder it has become to get a foot on the property ladder.
The report found:
Fewer than 40% of Australians aged 25-34 owned a home in 2021
Overall home ownership has fallen to 66%, down from a peak of 71% in the mid-1960s
Higher living costs, combined with incomes failing to keep pace with rising property values, are making it harder for younger people to save a deposit and enter the market.
A low-deposit home loan could be a solution. While they can’t solve the broader housing affordability challenge, they can help reduce one of the biggest barriers facing first home buyers – the upfront deposit.
Direct Credit Home Loans offers low-deposit home loans and can also help eligible first home buyers access government initiatives, including:
The Australian Government 5% Deposit Scheme
Relevant state-based grants and concessions
These initiatives could help you enter the market sooner.
#firsthomebuyer #homeloan #lowdeposit
Finding it difficult to save a 20% deposit?
If you’re finding it difficult to save up a 20% deposit, Direct Credit Home Loans may be able to help you secure a home loan with a deposit as low as 5%. Contact us on (07) 3726 1124 or email [email protected] to discuss your situation.
