Want to know how much your neighbours paid for their first homes?

Nov 19, 2020

First home buyers wanting to crack into the property market can now use an interactive map to see how much their neighbours spent on average for their first home.

Snoopy snoop! Everyone loves having a bit of a sticky-beak. After all, we’re only human.

And this interactive map, which is being run by the federal government’s NHFIC, allows you to see how much your neighbours spent on average for their first home.

It also shows how much your first-home-buying neighbours generally earn and how much they saved for a deposit.

It then provides a snapshot of the median debt-to-income (DTI) ratio and loan-to-value (LVR) ratio in each local government area across the country, which may seem a little less thrilling, but they’re both very important indicators when applying for finance.

The map is based on statistics from first home buyers who participated in the First Home Loan Deposit Scheme (FHLDS) between 1 January and 30 June 2020.

What’s the First Home Loan Deposit Scheme?

The FHLDS allows eligible first home buyers with only a 5% deposit to purchase a property without paying for lenders mortgage insurance (LMI).

This can save you anywhere between $4,000 and $40,000, depending on the property price and the deposit amount you’ve saved.

There have been two successful runs of the scheme in January and July, when the 10,000 available spots were snatched up within months.

And another 10,000 spots opened up in early November as part of the federal government’s attempts to kick-start the economy following the COVID-19 crisis.

So if you’re keen on nabbing a spot this time around, you’ll want to get in quick!

How to find out more

Check out the interactive map here to see how you compare to your neighbours in your local government area.

If you think you’re in the ballpark of being able to take advantage of the scheme yourself then get in touch with us today.

We can help you run some quick calculations (including your possible DTI and LVR) to see whether you’re ready to keep up with the Joneses and purchase a first home of your own.

Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute tax or financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.


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Elbre & Lynette N.

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I can not thank Cindy enough for her help over the last 2-3 months. Myself and my partner have been able to purchase our dream first family home because of her. Not only is she upmost professional but she also makes you feel so comfortable when you need to contact her with any questions( and I had a lot). The dedication that she puts in to her work and relationships with clients is nothing but admirable. Thanks so much again Cindy, we look forward to working with you again in the future.

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Narre Warren VIC.
Cindy is hands down the best in the business!
She assisted us with our first ever investment properties and she explained absolutely everything we needed to know. If there was anything we didn’t fully understand she would go over and over again until we did. Cindy is very knowledgeable and professional and by the end of your dealings she will feel like a friend to you. Cindy has also assisted my son with finance in purchasing a home and we have absolute confidence in recommending Cindy to any family or friends we know.

Matthew G. and Bel G.

Ashmore, QLD
This was our first dealing with a mortgage broker and n2n Finance made the whole process of the refinancing of our loan so easy. Cindy was amazing in answering our questions and made us feel we were in good hands with our decision. Thanks Cindy!

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Gold Coast, QLD
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Ty C. and Connie C.

Kilmore, VIC
We were referred to Cindy by a member of the family, and it was the best thing that we have been advised to do. Would like to thank you for all the advice, support, encouragement and simpleness in making the change so easy. Thank you Cindy.

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Absolute legend in finance, Cindy is more than a leading source, she takes the time to comfortably get to know you and your financial circumstances and needs then looks for a solution.  She sources what is the best option. Even if you are having trouble raising finance from the big 4 banks, Cindy is well networked in the Industry and has many gateway options to assist. We highly, highly, highly recommend Cindy and N2N, great service with results.

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