Perth property market: First-homebuyers in endless loop of saving and trying to buy reveals Finder survey

First-homebuyers are increasingly scared of getting priced out, likely to get beaten when they offer, and if successful, will probably struggle with mortgage stress. The shocking outlook for entry-level buyers has been revealed survey of more than 1000 first homebuyers, which shows how the market is stacked against them. The Finder survey of more than 1000 people has revealed nearly two thirds of entry-level buyers have missed out on a home they were serious about buying. “The words grim and dire are on the money when talking about the market for first-home buyers,” said Sarah Megginson, personal finance expert at Finder. “It feels like an endless loop of saving, shopping, inspecting, putting in an offer and missing out, again and again and again.” Ms Megginson said that of those who missed out, about one in three first home buyers (35 per cent in WA) were outbid by people making bigger monetary offers. But one in four in WA missed out because off conditions attached to an offer, such as subjecting the offer to finance approval. Those making a cash offer — rather than one that is subject to finance — tend to be more successful. Offering a shorter settlement time could also be the factor that helps some buyers over the line, with 7 per cent of first-homebuyers nationally, and 8 per cent in WA claiming they missed out to someone who could settle in a shorter time. Ms Megginson said failure to secure pre-approval was one of the factors within a buyer’s control, yet 10 per cent nationally, and 11 per cent in WA, missed out on homes failing to arrange it in time. The survey shows nearly four in ten — 39 per cent nationally and 38 per cent in WA — missed out for undisclosed reasons. Ms Megginson said buyers should organise finances and make sure they are aware of all waivers and incentives on offer under government programs, as it could boost their borrowing potential and open up a broader range of listings. Closing credit cards, or reducing maximum credit limits, could also boost borrowing potential, with every $5000 credit limit —whether used or not — reducing borrowing capacity by about $20,000. Finders 2025 First Home Buyer report said the percentage of first-homebuyers who bought out of fear of getting priced out increased from 31 per cent in 2024 to 38 per cent in 2025. It shows that nearly two in three (65 per cent) of entry-level buyers are already, or expect to be, in mortgage stress, which involves spending more than 30 per cent of one’s gross income on mortgage repayments. Most of those seeking to get on the ladder (60 per cent) say recent interest rate cuts influenced their decision to buy now, with one in four looking interstate or in a different region. The report also revealed a massive 70 per cent of first home buyers are buying or have bought with less than a 20 per cent deposit.

Perth property market: First-homebuyers in endless loop of saving and trying to buy reveals Finder survey

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