A report from property data firm Cotailty shows the Federal Government’s first home buyer scheme may be helping inflate house prices, especially in more affordable areas.
The new report shows that in the last quarter of the year, cheaper homes that could be afforded through the scheme grew 3.6% in comparison to more expensive properties, which grew just 2.4%.
Cotality’s head of research Tim Lawless, told the National Account the intention behind the scheme is “bewildering” as it “helps the first home buyers of today but not the first home buyers of tomorrow.”
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Thumbnail: Darren England, AAP.