Why this could be the year to buy your first home

Posted in Latest Jobs
Why this could be the year to buy your first home

The numbers of first home buyers are also growing, with 16 per cent of Australians looking to buy their first home in the next five years, up from 7 per cent the previous year. The national First Home Buyer survey of more than 2000 Australian adults late last year also revealed more than one in 10 property buyers (12 per cent) sought to live independently of their parents. Westpac’s managing director of mortgages Anthony Hughes said first homebuyers should be aware of their financial position and the changing dynamics of the housing market as they sought to buy. Sixty per cent of those are getting ready to buy their first home. They could help inform their “borrowing power” - how much potential buyers borrow – and the repayments required for different loans using their circumstances, plus other elements of the property to consider.

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