Unlocking The Home Ownership Dream
FIRST HOME BUYER REPORT 2024
3 4 Challenges and Opportunities for First-Home Buyers First-Home Buyer Loan Approvals 5 First-Home Buyer Lending Conditions 6 23 8-22 Government First-Home Buyer Assistance Programs Long-Term Implications and Solutions State Based Assistance and First-Home Buyer suburbs Contents 2 First Home Buyer Report
Navigating the Evolving Landscape: Challenges and Opportunities for First-Time Home Buyers in Australia
In Australia, owning a home is deeply entrenched in the national psyche, representing long-term economic security and a pathway to financial prosperity. However, for many Australians, especially first-home buyers (FHBs), the dream of homeownership has become increasingly elusive.
Current economic and property market conditions pose formidable challenges to firsthome buyers, chief among them being affordability. Strong growth in property prices, particularly in major cities like Sydney and Melbourne, have pushed homeownership out of reach for many young Australians.
Moreover, tight lending and deposit criteria imposed by financial institutions make it difficult for first-home buyers to secure mortgages. This creates a cycle where prospective buyers struggle to save enough for a deposit amidst rising property prices and stringent lending standards.
However, as the latest interest rate hiking cycle looks to have finished, and with the rental vacancy rates at record low levels, first-home buyers are again looking at their options for entering the homeownership market.
This report looks at what incentives are currently available to support first home buyers purchasing a home and our picks of the top metropolitan and regional locations to buy in 2024.
“ Affordability constraints and longer deposit saving times have made homeownership elusive for first-time buyers. “
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First-Home Buyer Lending Conditions
The February 2024 lending figures from the ABS paint a positive outlook, with loan approvals for first-home rebounding and remaining elevated afte r reaching record lows between 2021 and 2023.
In February, first-home buyer loan approvals increased by 13.2% year-on-year. This strong increase points to a rise in first-home buyer demand over calendar 2024, as the likelihood of further interest rate increases dissipates and buyers feel more confident about the budgeting of their future mortgage costs.
First-Home Buyer Loan Approvals
At a state-by-state level, the breakdown of where first-home buyer loans are being approved paints an interesting picture. Over the past 12-months, Victoria dominates loan approvals with over 31% of all new approvals; New South Wales represented 24%, followed closely by Queensland at 19%.
-80% -60% -40% -20% 0% 20% 40% 60% 80% 100% 120% 0 2,000 4,000 6,000 8,000 10,000 12,000 14,000 16,000 18,000 1/1/2007 1/1/2008 1/1/2009 1/1/2010 1/1/2011 1/1/2012 1/1/2013 1/1/2014 1/1/2015 1/1/2016 1/1/2017 1/1/2018 1/1/2019 1/1/2020 1/1/2021 1/1/2022 1/1/2023 1/1/2024 Rolling YOY % Change FHB Loan Approvals Actual Source: ABS First Home Buyer Home Loan Approvals Loan Approval YOY Change Loan Approvals
4 Source: ABS FHB Loan Approvals Actual 1/1/2007 1/1/2008 1/1/2009 1/1/2010 1/1/2011 1/1/2012 1/1/2013 1/1/2014 1/1/2015 1/1/2016 1/1/2017 1/1/2018 1/1/2019 1/1/2020 1/1/2021 1/1/2022 1/1/2023 1/1/2024 Rolling YOY% Change Loan Approval YOY change Loan Approvals 0 2,000 4,000 6,000 8,000 10,000 12,000 14,000 16,000 18,000 -80% -60% -40% -20% 0% 20% 40% 60% 80% 120% 100% First Home Buyer Report
New South Wales and Victoria had the highest growth in loan approvals over the past twelve months, growing at 15.3% and 14.6%, respectively, continuing the strong trend of growth seen in first-home buyer applications since November 2023 after a sharp decline in the 2021-2023 interest rate hiking period. The overall trend indicates a return to the market for first-home buyers, who are increasingly confident about future lending conditions and pricing
First Home Buyer Loan Approvals by State
Lending criteria and conditions remain a barrier to entry with tight lending conditions and high deposit requirements. Some start-ups have emerged in this space, offering deposit-free or lowdeposit options for first-home buyers. However, with the interest rate hikes looking less and less likely as the year progresses and the prospects of a rate cut in 2025 increase, first-time home buyers are increasingly looking at their options to enter the market.
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New South Wales Victoria Queensland South Australia Western Australia Tasmania Northern Territory Australian Capital Territory Source: ABS 1% 2% 16% 7% 19% 32% 22% 2%
Government First-Home Buyer Assistance Programs
Recognising the challenges faced by first-home buyers, both state and federal governments have implemented various policies and initiatives aimed at assisting them in achieving homeownership. Many of these schemes are targeted at providing a financial boost to first-home buyer’s deposits and tax and stamp duty discounts at the time of purchase.
6 First Home Buyer Report
Federal Government
First Home Guarantee (aka First Home Loan Deposit Scheme) — The government guarantees part of a FHB’s loan, meaning they can purchase with a 5% deposit without paying for Lenders Mortgage Insurance.
First Home Super Saver Scheme — A FHB can make voluntary contributions to their super and withdraw it to use to help purchase a home.
Family Home Guarantee — This scheme is for single parents with dependents. The government assists by guaranteeing part of the loan, meaning a FHB can purchase with a 2% deposit without paying for Lenders Mortgage Insurance.
Regional First Home Buyer Support Scheme — Those intending to buy property in regional Australia. The government helps by guaranteeing part of the loan, meaning they can purchase with a 5% deposit without paying for Lenders Mortgage Insurance.
Help to Buy Scheme — The government will loan applicants part of the upfront purchase price of a home. The federal government would own part of the home equity. The equity share will need to be repaid to the government, either over time or when the property is sold.
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New South Wales
GOVERNMENT ASSISTANCE
First Home Buyers Assistance Scheme (FHBAS) - Eligible first-home buyers purchasing an existing property for $800,000 or less won’t pay any transfer duty. Those who buy a property worth between $800,000 and $1 million will pay a reduced rate. The amount payable depends on the value of the property.
If you buy vacant land to build a house on, there will be no transfer duty if it costs $350,000 or less. A reduced transfer duty rate applies for vacant land valued between $350,000 and $450,000.
First Home Buyer Grant Scheme (FHOG) of $10,000. If you purchase a newly built house, townhouse, apartment, unit, or similar, the purchase price must not exceed $600,000.
If you purchase vacant land and sign a building contract with a builder, then we add the value of the vacant land plus the value of the comprehensive home building contract plus the cost of any building variations done together. The total combined cost must not exceed $750,000.
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First Home Buyer Report
FIRST-HOME BUYER SUBURBS
Detached Houses
REGIONAL
Units (Apartments & Townhouses)
REGIONAL
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Suburb Sub-Region Median Sale Price Mount Victoria Outer Western Sydney $640,000 San Remo Central Coast $645,000 Willmot Blacktown $647,000 Lethbridge Park Blacktown $660,000 Rosemeadow Outer South Western Sydney $757,500 Toukley Central Coast $772,500 South Windsor Outer Western Sydney $780,500 Busby Fairfield-Liverpool $785,000 Hazelbrook Outer Western Sydney $795,000 Ruse Outer South Western Sydney $795,000
SYDNEY
Suburb Region Median Sale Price Broken Hill Far West $185,000 Cobar North Western $192,500 Coonabarabran North Western $275,000 Lismore Richmond-Tweed $321,000 West Tamworth Northern $340,000 Cowra Central West $400,000 Muswellbrook Hunter $485,000 Dubbo North Western $559,750 Cessnock Hunter $575,000 Dapto Illawarra $735,000
Suburb Sub-Region Median Sale Price Wiley Park Canterbury-Bankstown $395,000 Cabramatta Fairfield-Liverpool $411,000 Harris Park Central Western Sydney $445,000 Leumeah Outer South Western Sydney $455,000 Wentworthville Central Western Sydney $580,000 Riverwood St George-Sutherland $590,000 North Parramatta Central Western Sydney $620,000 West Ryde Lower Northern Sydney $635,000 Hornsby Central Northern Sydney $705,000 Newtown Inner Sydney $735,000
SYDNEY
Suburb Region Median Sale Price Lavington Murray $290,000 Armidale Northern $330,000 Taree Mid-North Coast $335,000 Wagga Wagga Murrumbidgee $346,000 Queanbeyan South Eastern $435,000 Orange Central West $497,500 Coffs Harbour Mid-North Coast $543,638 Forster Hunter $580,000 Port Macquarie Mid-North Coast $608,400 Wollongong Illawarra $700,000
Australian Capital Territory
GOVERNMENT ASSISTANCE
Home Buyer Concession Scheme (HBCS): The Home Buyer Concession Scheme (HBCS) provides eligible first-home buyers with significant concessions on stamp duty. Under this scheme, first-home buyers may be entitled to a full or partial exemption from stamp duty, depending on the value of the property they are purchasing.
First Home Owner Grant (FHOG): The First Home Owner Grant (FHOG) provides financial assistance to eligible people buying their first new or substantially renovated home.
FIRST-HOME BUYER SUBURBS
Detached Houses
ACT
Units (Apartments & Townhouses)
ACT
By adopting a holistic approach that combines supply and demand-side incentives, more young Australians can ensure that the dream of homeownership remains obtainable.
Suburb Sub-Region Median Sale Price Phillip Woden Valley $560,000 Greenway Tuggeranong $576,744 Belconnen Belconnen $640,000 Charnwood Belconnen $660,000 Banks Tuggeranong $740,000 Ngunnawal Gungahlin-Hall $750,000 Holt Belconnen $752,500 Latham Belconnen $760,000 Braddon North Canberra $769,000 Richardson Tuggeranong $769,000
Suburb Sub-Region Median Sale Price Hawker Belconnen $355,000 Lyons Woden Valley $388,000 Macquarie Belconnen $425,500 Gungahlin Gungahlin-Hall $450,000 Chifley Woden Valley $460,000 Reid North Canberra $486,500 Crace Gungahlin-Hall $488,000 Belconnen Belconnen $494,000 Bruce Belconnen $507,500 Wright Weston Creek-Stromlo $507,750
“ “ 10 First Home Buyer Report
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Victoria
GOVERNMENT ASSISTANCE
Victorian Homebuyer Fund Share Equity Scheme If you have a 5% deposit, the Victorian Government will contribute up to 25% of the purchase price in exchange for an equivalent share in the property, which can reduce your mortgage. Plus, there is no Lenders Mortgage Insurance.
Stamp duty removed or reduced The Victorian Government abolished stamp duty for first home buyers buying a house for $600,000 or less. The rate is tapered if you’re buying a home for between $600,000 and $750,000. It is zero at $600,000, then increases slightly as the cost of the house rises to $750,000.
First Home Owner Grant: A $10,000 First Home Owner Grant is available when you buy or build your first new home.
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First Home Buyer Report
FIRST-HOME BUYER SUBURBS
Detached Houses
MELBOURNE
Units (Apartments & Townhouses)
MELBOURNE
13 REGIONAL Suburb Region Median Sale Price Morwell Gippsland $330,000 Ararat Central Highlands $358,500 Hamilton Western District $375,000 Horsham Wimmera $395,000 Mildura Mallee $427,250 Norlane Barwon $453,750 Eaglehawk Loddon $485,000 Ballarat East Central Highlands $505,000 Wodonga Ovens-Murray $546,500 Echuca Goulburn $561,500
Suburb Sub-Region Median Sale Price Melton Melton-Wyndham $470,000 Dallas Hume City $515,000 Brookfield Melton-Wyndham $557,500 Broadmeadows Hume City $560,000 Millgrove Yarra Ranges Shire $570,000 Doveton South Eastern Outer Melbourne $570,000 Frankston North Frankston City $575,000 Laverton Western Melbourne $580,000 Albanvale Western Melbourne $595,000 Kings Park Western Melbourne $599,500
Suburb Sub-Region Median Sale Price Carlton Inner Melbourne $335,000 Notting Hill Eastern Middle Melbourne $358,000 Werribee Melton-Wyndham $423,100 Cranbourne South Eastern Outer Melbourne $450,000 Box Hill Eastern Middle Melbourne $470,000 North Melbourne Inner Melbourne $485,000 Frankston Frankston City $500,000 Footscray Western Melbourne $500,000 West Melbourne Inner Melbourne $510,000 Brunswick Moreland City $559,750 REGIONAL Suburb Region Median Sale Price Mildura Mallee $315,000 Traralgon Gippsland $330,000 Shepparton Goulburn $331,400 Wodonga Ovens-Murray $345,000 Sebastopol Central Highlands $346,000 West Wodonga Ovens-Murray $355,000 Warrnambool Western District $425,000 Warragul Gippsland $430,000 Belmont Barwon $520,000 Highton Barwon $537,000
Queensland
GOVERNMENT ASSISTANCE
First Home Owner Grant (FHOG) gives eligible first-time home buyers $15,000 or $30,000 towards buying or building a new home in Queensland. The FHB must be buying or building a new home valued less than $750,000 (including land and any contract variations).
“ “In Qld, the number of first home buyer loans increased by 3.2% from January to February 2024.
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FIRST-HOME BUYER SUBURBS
Detached Houses
BRISBANE
REGIONAL
Units (Apartments & Townhouses)
BRISBANE
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Suburb Sub-Region Median Sale Price Goodna Ipswich City $275,000 Caboolture Caboolture $300,000 Beenleigh Logan City $310,000 Kippa-Ring Redcliffe $386,500 Kallangur Pine Rivers $425,000 Bowen Hills Inner Brisbane $430,000 Fortitude Valley Inner Brisbane $440,000 Richlands Northwest Outer Brisbane $448,250 Stafford Northwest Inner Brisbane $475,000 Kelvin Grove Inner Brisbane $490,000
Suburb Sub-Region Median Sale Price South Gladstone Gladstone $182,875 Woree Cairns $195,000 Emerald Fitzroy SD Bal $215,000 Manoora Cairns $255,000 Mackay Mackay $280,000 Newtown Toowoomba $336,500 Townsville City Townsville City Part A $371,500 Torquay Hervey Bay $402,000 Nerang Gold Coast West $515,000 Southport Gold Coast East $557,500
REGIONAL
Suburb Sub-Region Median Sale Price Russell Island Redland City $349,950 Macleay Island Redland City $380,000 East Ipswich Ipswich City $435,000 Bundamba Ipswich City $495,000 Caboolture South Caboolture $565,000 Inala Northwest Outer Brisbane $600,000 Dakabin Pine Rivers $643,000 Acacia Ridge Southeast Outer Brisbane $658,000 Darra Northwest Outer Brisbane $665,500 Springfield Lakes Ipswich City $666,000
Suburb Sub-Region Median Sale Price Blackwater Fitzroy SD $215,000 Roma South West $295,000 Rasmussen Townsville City $321,000 South Gladstone Gladstone $327,500 Chinchilla Darling Downs $334,500 South Mackay Mackay $395,400 Bowen Mackay $397,000 Point Vernon Hervey Bay $575,000 Pimpama Gold Coast West $705,000 Caloundra West Sunshine Coast $750,000
South Australia
GOVERNMENT ASSISTANCE
The First Home Owners Grant A once of first home owner grant of up to $15,000 is available to eligible first home owners purchasing or building a brand-new home. The grant is not just restricted to houses it can also be for a new unit, townhouse or apartment. The market value of the new home needs to be $650,000 or less.
Stamp Duty Relief - If you are a first home buyer and eligible for the stamp duty first home buyer relief, the relief may reduce your stamp duty to zero if the value of your new home is below $650,000 or partially reduce your stamp duty if the value of your new home is below $700,000.
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FIRST-HOME BUYER SUBURBS
Detached Houses Units (Apartments & Townhouses)
ADELAIDE
Suburb Sub-Region Median Sale Price
Elizabeth North Northern Adelaide $350,000
Davoren Park Northern Adelaide $370,000
Andrews Farm Northern Adelaide $470,500
Christie Downs Southern Adelaide $501,250
Para Hills West Northern Adelaide $546,500
Morphett Vale Southern Adelaide $550,000
Gawler East Northern Adelaide $566,250
Osborne Western Adelaide $610,000
Mansfield Park Western Adelaide $610,000
Modbury Northern Adelaide $625,000
REGIONAL
Suburb Sub-Region Median Sale Price
Whyalla Norrie Whyalla $200,000
Port Augusta Flinders Ranges $218,000
Waikerie Riverland $300,000
Kadina Yorke $365,000
Naracoorte Upper South East $375,000
Mannum Riverland $400,000
Mount Gambier Lower South East $400,000 Nuriootpa Barossa $519,000
Fleurieu $535,000
Nairne Mt Lofty Ranges $622,500
ADELAIDE
Suburb Sub-Region Median Sale Price
Plympton Western Adelaide $372,500
Mawson Lakes Northern Adelaide $390,000
Morphett Vale Southern Adelaide $420,000
Walkerville Eastern Adelaide $420,000
Adelaide Eastern Adelaide $440,000
Payneham Eastern Adelaide $457,500
Lightsview Northern Adelaide $460,000
Magill Eastern Adelaide $515,000
Glenelg East Southern Adelaide $522,500
Prospect Eastern Adelaide $535,000
REGIONAL
Suburb Sub-Region Median Sale Price
Mount Gambier Lower South East $299,000
Port Lincoln Lincoln $310,000
Victor Harbor Fleurieu $400,000
Mount Barker Mt Lofty Ranges $470,000
Goolwa
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Western Australia
GOVERNMENT ASSISTANCE
First Home Owner Grant (FHOG) is a one-off payment of up to $10,000 for people buying or building their first new home. The FHOG is available for the purchase of a new home or a home that has undergone substantial renovations. The FHOG isn’t available for established homes.
In WA, the number of first home buyer loans increased by 6.5% over the year to February 2024. “ “
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FIRST-HOME BUYER SUBURBS
Detached Houses
PERTH
Suburb
Medina
REGIONAL
Two
Units (Apartments & Townhouses)
PERTH
Suburb
REGIONAL
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Sub-Region Median Sale Price
South West Metropolitan $355,000 Armadale South East Metropolitan $380,000 Midland East Metropolitan $400,000 Mirrabooka North Metropolitan $476,250 Ridgewood North Metropolitan $477,500 Kenwick South East Metropolitan $483,000 Nollamara North Metropolitan $483,500
South West Metropolitan $499,500
Bertram
Rocks North Metropolitan $500,000 Ellenbrook East Metropolitan $500,000
Suburb Sub-Region Median Sale Price Boulder Kalgoorlie/Boulder City $284,250 Collie Preston $299,000 Northam Avon $302,000 Manjimup Blackwood $317,500 Mandurah Mandurah $385,500 East Bunbury Bunbury $435,000 Greenfields Mandurah $435,000 South Hedland De Grey $450,000 Wandina Geraldton $467,000 Jurien Bay Moore $486,500
Sub-Region Median Sale Price Shoalwater South West Metropolitan $275,000 Glendalough North Metropolitan $300,000 Armadale South East Metropolitan $319,000 Midland East Metropolitan $325,000 Osborne Park North Metropolitan $330,000 Joondalup North Metropolitan $375,000 Rivervale South East Metropolitan $415,000 Morley East Metropolitan $422,500 East Perth Central Metropolitan $428,000 Fremantle South West Metropolitan $489,000
Suburb Sub-Region Median Sale Price Kalbarri Greenough River $229,000 Somerville Kalgoorlie/Boulder City $275,000 South Hedland De Grey $310,000 Mandurah Mandurah $310,000 Carey Park Bunbury $325,000 Cable Beach Fitzroy $329,000 South Bunbury Bunbury $364,000 Broome Fitzroy $368,250 Bunbury Bunbury $430,000 Port Hedland De Grey $430,361
GOVERNMENT ASSISTANCE
First Home Owners Grant - A grant of up to $30,000 is available to eligible FHB’s who purchase or build a new home. A new home is a home that has not previously been occupied or sold as a place of residence and includes kit homes.
First Home Buyers Of Established Homes Duty Concession - This concession provides a 50% discount on property transfer duty for first home buyers of an established home with a value up to $600,000.
FIRST-HOME BUYER SUBURBS
Detached Houses
HOBART
Suburb Sub-Region Median Sale Price
Bridgewater Greater Hobart $432,204
Risdon Vale Greater Hobart $448,750
New Norfolk Greater Hobart $467,500
Primrose Sands Greater Hobart $470,000
Chigwell Greater Hobart $486,000
Warrane Greater Hobart $520,000
Claremont Greater Hobart $560,000
Rokeby Greater Hobart $564,500
Glenorchy Greater Hobart $570,000
Carlton Greater Hobart $587,500
REGIONAL
Suburb Sub-Region Median Sale Price
Queenstown Lyell $190,000
George Town Greater Launceston $350,000
Acton Burnie-Devonport $351,000
Smithton North Western Rural $380,000
Scottsdale North Eastern $420,000
Mowbray Greater Launceston $442,500
Devonport Burnie-Devonport $456,000
Sheffield North Western Rural $485,000
Newnham Greater Launceston $494,250
Deloraine Central North $500,000
20 First Home Buyer Report Tasmania
Units (Apartments & Townhouses)
TASMANIA
Suburb Sub-Region
Newnham
Latrobe Burnie-Devonport
Ulverstone Burnie-Devonport
Devonport Burnie-Devonport
Newstead
“ As the latest interest rate hiking cycle looks to have finished, and with the rental vacancy rates at record low levels, first-home buyers are again looking at their options for entering the homeownership market. “
Median
Sale Price
Greater
$340,000
Launceston
$418,000
$420,000
$420,000
Greater Launceston $420,000 Riverside Greater Launceston $427,500 Glenorchy Greater Hobart $441,000 Claremont Greater Hobart $445,000 Prospect Vale Greater Launceston $453,000 Brighton Greater Hobart $460,000 Launceston Greater Launceston $470,000
Moonah Greater Hobart $485,000 Legana Greater Launceston $487,000 New Town Greater Hobart $505,000
Greater Hobart $506,500 Mount Nelson Greater Hobart $521,000 Oakdowns Greater Hobart $536,500 South Hobart Greater Hobart $565,000 Howrah Greater Hobart $570,000 Bellerive Greater Hobart $570,000
West
Sorell
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Northern Territory
GOVERNMENT ASSISTANCE
First Home Owner Grant - If you are buying or building a new home, you can apply for a First Home Owner Grant (FHOG) of $10,000. A new home is one that has never been previously lived in or sold as a place of residence.
FIRST-HOME BUYER SUBURBS
Detached Houses
NORTHERN TERRITORY
Suburb Sub-Region Median Sale Price
Moulden Palmerston-East Arm $362,500
Gray Palmerston-East Arm $400,000
Woodroffe Palmerston-East Arm $435,000
Driver Palmerston-East Arm $445,000
Katherine East Lower Top End NT $466,500
Karama Darwin City $470,000
Braitling Central NT $480,000
Bakewell Palmerston-East Arm $481,250
Gillen Central NT $485,000
Gunn Palmerston-East Arm $495,000
Units (Apartments & Townhouses)
To make homeownership attainable for all Australians, it's crucial for governments at all levels to work together in tandem with industry and housing providers. “ “
First-home buyers need to research and understand the specific eligibility criteria, application processes, and potential benefits of each scheme available in their location. Additionally, seeking advice from financial advisors or mortgage brokers can help navigate the complexities of purchasing a first home and accessing available assistance programs.
22 Group NT
Median
Bakewell Palmerston-East
$290,000 Millner Darwin City $305,000 Gillen Central NT $327,000 Coconut Grove Darwin City $355,000 Nightcliff Darwin City $370,000 Parap Darwin City $375,500 Rapid Creek Darwin City $415,000 Stuart Park Darwin City $420,000 Darwin City Darwin City $430,000 Larrakeyah Darwin City $440,000
Suburb Sub-Region
Sale Price
Arm
First Home Buyer Report
Long-term implications and solutions
Addressing the challenges facing Australian first home buyers requires a multi-faceted approach that involves collaboration between governments at all levels, alongside industry stakeholders, and housing providers.
One key strategy involves increasing the supply of affordable housing through measures such as incentivizing the construction of affordable housing developments and releasing government-owned land for residential development. Additionally, policymakers should prioritize implementing reforms that promote greater transparency and accountability in the property market, including measures to curb speculation and address housing affordability as a systemic issue rather than a temporary phenomenon.
To make homeownership attainable for all Australians, it's crucial for governments at all levels to work together in tandem with industry and housing providers. By adopting a holistic approach that combines supply and demandside incentives, more young Australians can ensure that the dream of homeownership remains obtainable for future generations of first-home buyers.
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Disclaimer This eBook does not necessarily reflect the opinion of the publisher. It is intended to provide general news and information only. The content does not take into account your personal objectives, financial situation or needs. While every care has been taken to ensure the accuracy of the information it contains, neither the publishers, authors nor their employees, can be held liable for inaccuracies, errors or omission. Copyright is reserved throughout. No part of this publication can be reproduced or reprinted without the express permission of the publisher. All information is current as at publication release and the publishers take no responsibility for any factors that may change thereafter. Readers are advised to contact their financial adviser, broker or accountant before making any investment decisions and should not rely on this eBook as a substitute for professional advice. This information is to be used as a guide only and is subject to change at any time. Mathew Tiller Head of Research LJ Hooker Group mtiller@ljhooker.com Group