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More than a third (37 per cent) end up exceeding their budget, according to Finder's latest First Home Buyer Report.

The comparison site's survey of more than a thousand first-time buyers - 372 of whom had already completed their purchase - found eight per cent paid more than $100,000 over budget and another eight per cent went at least $50,000 over.

Only 20 per cent of those who took part in the research managed to buy for less than what they believed they could afford.

Part of the reason for the blowouts was to do with underquoted property prices, Finder money expert Sarah Megginson says.

"Underquoting is where a property is listed at a price lower than what it's worth to bait buyers," she said.

"It's illegal but it does happen, particularly in the case of auctions, where underquoted prices can attract more buyers and lead to a bidding war."

Everything being equal, agents are responsible for proving properties are worth their listed price and informing buyers if estimates change.

NSW led the way when it came to buyers exceeding limits, with 41 per cent of respondents doing so.

Queenslanders were hot on their heels, with 40 per cent overspending.

So did 31 per cent of Victorian buyers who were polled.

Data from property price predictor REALas indicates some NSW and Victorian agents underquote by as much as 20-30 per cent. However Ms Megginson says that's not the only reason buyers overextend.

"We're in a market where prices have skyrocketed and wages can't keep up with that level of growth," she said.

"Many have been forced to spend more than they hoped. Unfortunately this will have consequences down the track on buyers' ability to service their loans."

The average Australian home loan in April was $615,304, according to Australian Bureau of Statistics data.

Meanwhile, credit reporting agency Equifax says mortgage arrears rates have already started trending up, with first-time buyers more than twice as likely than other mortgage holders to be 90 or more days delinquent.

Finder's research shows those with higher budgets are more inclined to blow initial limits.

More than half of buyers with a budget above a million dollars exceeded it, including 28 per cent who spent more than $100,000 extra.

That's compared with 37 per cent of those with $500,000-$1,000,000 to spend and 29 per cent who had less than $500,000.

© AAP 2022

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The federal government is reportedly reversing course and looks set to maintain the $750 pandemic isolation payment after earlier announcing it was ending.

A snap national cabinet meeting to discuss the latest COVID-19 wave has also been brought forward by two days to Saturday morning by Prime Minister Anthony Albanese.

The fast-tracked meeting comes after the government came under increasing pressure to reverse a decision to end the emergency payments for people who have to isolate due to COVID but do not have sick leave.

On Friday evening Mr Albanese tweeted that Chief Medical Officer Paul Kelly would report to national cabinet on Saturday morning and "we will discuss proposals to ensure the vulnerable are protected over coming weeks".

The meeting was to have been held on Monday.

On Saturday Mr Albanese will advocate for a time-limited reinstatement of the pandemic payment at the cabinet meeting as infections skyrocket and hospitalisations increase, Nine newspapers reported on Friday evening.

Australians are showing up for their booster vaccines before an expected spike in COVID-19 cases across the country.

The government has been under pressure to extend the pandemic leave payments and the free rapid antigen test program until the end of winter.

The head of the Australian Medical Association says he was surprised by the government's decision to cease the payments, given people are still required to isolate if they test positive.

"The last thing you need when you have such huge numbers of cases around is for the government to pull its supports for people to do the right thing," AMA national president Omar Khorshid told the ABC on Friday.

"Generally the government has extended the measures we continue to need because the pandemic is still here and affecting us.

"People are legally required to isolate for seven days if they've been infected with COVID-19 and that means they also need the support from government to be able to do it."

Mr Albanese received a briefing on Australia's current and expected caseloads from Professor Kelly and Health Department secretary Brendan Murphy on Friday afternoon.

"We know the COVID pandemic is not over and people should continue to act in accordance with the health advice," Mr Albanese said.

The federal government would address issues that arose based on health advice, he added.

"We want to keep the economy open and the key to that is limiting the health impact on Australians," he said.

Mr Albanese said there had been a big increase in the number of people getting COVID-19 booster shots and a rapid rise in the use of antivirals in the past week.

The government expanded eligibility for fourth vaccine doses to anyone aged 30 and over earlier this month.

As of Thursday, nearly 14 million people had received three or more COVID-19 vaccine doses, while almost three million people had received four or more.

The government has resisted calls from across the political spectrum, including from its own back bench, to reinstate pandemic payments for workers needing to isolate, saying national debt is too high.

Acting opposition leader Sussan Ley said on Friday night that the federal government had "caved to pressure" and criticised the prime minister for acting too slowly.

"Mr Albanese owes an apology to the tens of thousands of Australians who have faced stress and uncertainty in recent weeks following his decision to end those payments," she said.

Greens leader Adam Bandt urged Mr Albanese to extend the payments as well as the free rapid test program for concession card holders.

"In light of the new strains, case numbers, health advice and strain on hospitals, the government should minimise spread by supporting sick people to stay home," Mr Bandt said on Friday.

Australia recorded more than 43,000 cases and 66 deaths on Friday, with 4602 people in hospital.

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Image: Anthony Albanese