A significant number of aspiring homeowners in Australia are struggling to secure properties, despite having adequate financial resources. According to a recent report from Finder, an online financial comparison platform, intense market competition is the primary barrier preventing first-home buyers from achieving their property dreams.
Finder’s “First Home Buyer Report 2025,” based on a survey of 1,006 potential first-home buyers, reveals that 61 per cent have lost out on properties they were actively considering. This alarming statistic highlights the difficult circumstances these prospective homeowners face in a challenging real estate market. Sarah Megginson, a personal finance expert at Finder, pointed out that the findings underscore the frustrations that new buyers experience.
The report outlines several reasons why these buyers are missing out: one-third reported being outbid by other competitors, while almost 25 per cent lost potential homes after other buyers made unconditional offers—meaning they committed to purchasing without conditions like finance approval or inspections. Additionally, delays in securing pre-approval led to missed opportunities for about 11 per cent, and around 7 per cent were unsuccessful due to competitors offering shorter settlement periods, which is appealing to sellers seeking quick sales.
Megginson elaborated on the difficulties faced by first-home buyers, labelling the search for a property as an exhausting and drawn-out process. With nearly two-thirds of buyers unable to secure their desired properties, the market appears increasingly adversarial for newcomers. Many first-time buyers are competing for a limited supply of affordable homes, resulting in heightened competition, stretched budgets, and aggressive bidding strategies.
The report also highlights the ongoing nature of these challenges, revealing that 42 per cent of first-time buyers with approved finance have missed out on a property multiple times. The situation is even more dire for some, as one in five have been unsuccessful in securing at least three properties they were seriously interested in.
In summary, the findings paint a picture of a highly competitive housing market in Australia, where first-home buyers face significant hurdles in their quest to secure a home. As competition intensifies and available properties remain scarce, the prospects for newcomers remain uncertain, leaving many to feel frustrated and disheartened.