More first-time buyers were purchasing an investment property rather than a home, driven by affordability pressures in the capitals, according to specialists quoted in the report. PIPA board director Peter Koulizos said rental income often allowed investors to borrow more, though deposits were typically 10 per cent plus costs against 5 per cent for owner-occupiers. Buyers taking this route generally forfeited first home buyer grants and stamp duty concessions.
Reported by
Anthony Keane, The Daily Telegraph, 4 Marc
PIPA has summarised this coverage for members. Copyright in the original article remains with its publisher.
