Are people "camping overnight" to get hold of house and land package in Sydney?

What is "house and land package"? What are some of its advantages and disadvantages? Is it better to buy an existing house or apartment? Finance expert Bishwas Bhattarai had this to say.

Australia is experiencing a residential building boom driven by record low interest rates and the home builder grant. Source: Getty Images

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Topics discussed:

• What is home and land package in Australia?
• Are people really "camping overnight" to gain foothold?
• Do banks prefer pre-existing properties?

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Note: We’d like to point out that the information contained in this segment is general and is not specific advice. If you would like accurate information relevant to your situation, you should ask your tax agent, accountant, or financial planner.