Property Market to favour First Homebuyers: RBA

First Homebuyers patience has been wearing thin, as the Reserve Bank suggests them to remain patient with the current boom in the property market. A recent report from the Australian Bureau of Statistics show that First Homebuyers for March barely increased by just 0.1% at 12.6% from the previous month.

The RBA’s head of Financial Stability Dr Luci Ells believes that the chance of experiencing another property boom is very slim, citing home value increases over incomes. She is convinced that the property cycle will eventually create a situation favorable for First Homebuyers. For the 12 months leading to April, home values have increased by 11.5%.

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