While the slowdown in Australia’s property market fuels first home buyers’ concerns and frustrations, there is a silver lining for those ready to break into the world of home ownership. Financial comparison website RateCity.com.au found that first home buyers face a tougher environment than last year, with the release of its second First Home Buyer Index. But despite these concerns, the RateCity report shows property prices were relatively stable over the past 12 months and some states are lower. The national average house price for instance, (based on the RP Data-Rismark Hedonic Index using the capital cities data) fell by 0.15 percent to about $491,000.
