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    Nearly 1,500 properties bought using first home buyers’ 5% deposit scheme converted into investments | Housing
    Australia

    Nearly 1,500 properties bought using first home buyers’ 5% deposit scheme converted into investments | Housing

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    8 Comments

    3. stevenadamsbro on

      Less than 1%. You would assume a lot of the 1500 probably weren’t intending for it either. We all know people that have been forced to move at the most inconvenient time due to events out of their control. A death, caring for an elder family member, losing a job, etc.

    4. ntsmmns06 on

      Young people can’t invest wisely. That’s just for the olds who’ve benefited from every tax break available for the past 40 years then brought the draw bridge up after them.

    5. bootyholeminer on

      I read the article, they dont go into details about the data. For example I used this scheme a few years ago, bought a place with an existing tenant. (Almost everything on the market has a tenant)

      Lease ended 4 months in, I moved in and have lived there ever since. Does that include me in the data?

    6. bammilo on

      I bought my apartment in 2020. I now have a partner and we’re looking to buy a house together.

      Because of stamp duty and other factors, it makes no sense to sell my apartment but rather IP it to ensure we have maximum leverage for the house purchase.

      People are using FHB to get their foot in the door, often with apartments as that’s all they can afford on FHB. Life changes and so does our housing needs. If the government made it cheaper to swap our PPOR, I expect this already small number would be even smaller.

    7. samdd1990 on

      Well it makes sense.

      I can’t afford to buy where I want to live but I could put up with living in a smaller unit for a year and then move out, rent somewhere and have some else pay off the mortgage until I’m ready to buy somewhere I want to live (save up more money, get a bit older/kids etc so I don’t mind living a bit further out of the city). Good way to get on the market earlier but maintain the living standard you want.

      I have friends who did this, my wife and I were planning to do this but did something else instead.

    8. oh_shit_pearly_white on

      I bought mine using this scheme in 2020 – was bloody amazing and always intended to live there. Family reasons came up and had to move to the UK – still wanted ties back to Aus so renting the house out. Not much of an investment because it’s costing us each month.

      Take this data with a grain of salt.