Great time to save for first home
There are about 102,000 more residential properties on the market than this time last year, according to Louis Christopher from SQM Research. Prices rose just 0.2 per cent in December, after a 0.1 per cent decline in November, according to the latest figures from RP Data.
Now is a fantastic time to be saving for a home. Unlike in the past 10 years, when property prices rose faster than you could save, in the next few years prices may actually fall. open up a First Home Saver Account (FHSA), so you can get a 22.5 per cent return on your savings (plus, your earnings are taxed at 15 per cent, rather than your marginal rate).