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Highlights of the spotlight include:
- First home buyers are struggling to enter the property market despite their Australian dream to own a home.
- Housing has stretched beyond the reach of many individuals with 29% unable to save a deposit and a further 24% feeling they were unable to meet mortgage repayments.
- 66% of first home buyers continue to remain trapped in rental properties, which is delaying their ability to save a deposit.
- Over recent years product innovation in the mortgage market has increased, providing first home buyers with a wider range of alternative loan options While there are a wide range of alternative loan options available to borrowers, there is a lack of awareness about the benefits some of these new products offer.
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