As in many places across the planet the first time buyers are perceived as being priced out of the market with the continued growth in housing values.  Many people are calling on the government to intervene to create more affordable housing.

So waht could the government(i.e John Howard and Peter Costello) or the would be Gov (Kevin Rudd)  realistically do?

1) Reduce transfer/stamp duty on land

2) Increase the first time home buyers grant (its $7k in QLD)

3) Reduce the mortgage registration fee and stamp duty

4) Reduce the red tape and costs on developers to make developing land easier

5) Enforce lower head costs on local councils on new land development

Well its easy to put all the onus on the Government and say they should be doing everything about it. But waht can home buyers or would be home buyers do to help themselves?

1) Save more of your disposable cash- stop going out shopping and drinking/gambling the lot away and stop enjoying yourself.

Ok so number one is not that easy, but I wish someone had told me this when I was younger! You should aim to save about 20% of your salary per week consistently.

2) Reduce your expectations; many first time buyers want to jump into the market in the best area with a new built 4 bedroom detached home. Get real. Buy a small fixer upper in a less attractive area and live in the shambles until the house has enough equity in it to afford renovation. And save money once your in there. But get in the market.

3) Get a second job to improve your lending ability

4) Buy a small block and owner build something small on it. You could save yourself thousand.

5) Buy something and rent out a room or two to your mates to make the mortgage payments.

6) Make sure you qualify for the first home buyers grant and make sure you apply for it. $7k is a nice gift from the State.