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For how long does why is it so hard to get a mortgage today it take a young couple to save a deposit to buy a first home in the present environment? Less than a year in the majority of our capital cities and less than 18 months in Sydney.

But you wouldn't understand it if you've tuned into the headlines over the past week, in the wake of another piece of fake "research" created by a publicity-seeker. Media treatment of this "report" would have us think it takes control of 6 years for the common young couple to save a deposit.

How did we reach this disconnect between reality and media perception? Because no one at the same time offers a damn about being valuable to people. The only objective is the heading.

Media enjoys a story stating young Australians can't pay for to buy-- or that the roadway to home ownership is impossibly long and difficult.

The truth opposes the concept that young individuals and couples are evaluated of the market, however journalists will never let the realities get in the way of a clickbait heading. And their desire to publish dire scenarios is sustained by obviously trustworthy research study organisations whose motive is to create publicity.

The headings in the previous week declared it took first-home purchasers over 6 years to save a deposit to buy a house. One heading yelled "FHBs bearing much heavier deposit burden" and another said "FHBs take six and a half years to afford their very first house".

In each case, the figures from a news release were recycled as fact without question or scrutiny. Such is journalism in modern Australia.

The headlines were based on a circumstance that has no relationship to the reality for many young Australians. The headings-- and the report that created them-- were based on the idea that common first-timers need a 20% deposit, that they should purchase a house rather than a system, and that they're buying in Sydney or Melbourne.

For 9 out of 10 young people wishing to buy their very first house, that circumstance is not their reality. A more likely circumstance is a 5% deposit to purchase lower-priced house, perhaps an apartment, in Brisbane or Perth or Ballarat or Wollongong or the Sunlight Coast-- or a block of land to develop a brand-new home with the aid of the HomeBuilder grant.

The truth is that first-home purchasers are having a feeding craze in real estate markets across Australia. They comprise the most active friend in the real estate market. This is appearing in the loaning figures, in the sales information and in anecdotal proof from people at the coal-face of markets throughout the nation.

Interest rates have actually never ever been lower and the level of government assistance has actually never been greater. You can borrow inexpensive from banks who want your business, you can pocket rewards from federal and state federal governments, and get into your first house with an ease that has actually never ever existed before.