The housing market has shown a robust performance, despite the shock of COVID-19 in 2020. But the pandemic has impacted pockets of the housing market, creating opportunities for buyers. Recent housing value declines are particularly prominent in major cities like Sydney and Melbourne. These cities accounted for around 75% of international migration across the capital cities in 2018-19, meaning international border closures have created a particular demand shock.
On Wednesday, the Minister for Housing announced around 1,800 places would be re-issued from the first round of the first home loan deposit scheme (FHLDS). This means recent value falls may have created an opportunity for first home buyers, where there is a maximum purchase