Lenders mortgage insurance provider Helia has released the Home Buyer Sentiment Report (prepared by CoreData), which has revealed just how much impact rising inflation has had on the ability for home buyers to save for their deposit.
According to the Australian Bureau of Statistics, the consumer price index rose 3.8 per cent over the 12 months to the June 2024 quarter and 1 per cent over the June 2024 quarter. Housing was the most significant price rise in the June 2024 quarter (1.1 per cent).
As a result, the report showed “cost of living pressures” has now become the most cited barrier to home ownership (54 per cent).
This has overtaken the other top barriers that were cited in 2023, including housing affordability (43 per cent) and finding a suitable property within a budget in a suitable location (42 per cent).
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