Australia’s insane property prices have created some pretty big losers – and it is not just the younger generations missing out.

Australian property prices are still among the highest in the world compared with income, with Sydney and Melbourne’s real estate prices particularly soaring.

For this reason, the Government has introduced a range of new initiatives to help Australia’s younger generations get their foot in the door.

One of those initiatives, the First Home Loan Deposit Scheme, allows for 10,000 eligible homebuyers to purchase their first property with a 5 per cent deposit – instead of the usual 20 – thanks to the Government guaranteeing the mortgages.

Read more: https://www.news.com.au/finance/national-story-of-property-prices-is-not-reflective-of-many-markets-in-australia/news-story/bb8b951968fbcdcf56f593929ab8dd49