The Conditions Facing Potential First Home Buyers Entering The Property Market Essay

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ASSIGNMENT 1- TOPIC: The conditions facing potential first home buyers entering the property market Date: 23/09/2016 Students Names: Ruchini Jayalath, Hoang Thuy My Dung Students Numbers: S00214899, S00198271 Abstract This report investigates the conditions facing potential first home buyers entering the property market by applying the economic theories and concepts. The brief introduction of first home buyers in Australia and demand, supply and elasticity are initially illustrated. The discussion then focuses on the factors affecting buyer activities: demographic changes, economic growth rates, inflation/deflation expectations, and monetary and fiscal policy changes. It is concluded that giving suggestions and advices to the stakeholders. TABLE OF CONTENT Abstract 1.0 Introduction 2.0 Demand, supply and elasticity 3.0 Factors affecting buyer activities 3.1 Government taxes, levies and charges 3.2 Demography 3.3 Economic growth 3.4 Inflation/deflation 4.0 Suggestions and advices to the stakeholders 1. INTRODUCTION Housing is the most essential asset owned by the majority of Australian households. It is a large component of household wealth and serves a unique, dual role as an investment vehicle and a long-lasting good from which consumption facilities are derived. Housing is extremely important to all people. Shelter is a fundamental need. Home ownership has been considered as one of the key elements of high living standards. Home ownership provides security,

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