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Are first home buyers coming back into the real estate market?
They may very well be with recent figures showing that first home buyers in August accounted for 15.5 percent of all new mortgages compared to only 11.7 percent in June. It seems that NSW is also the preferred market to buy a first home when compared to every other state in the country, with Western Australia being the second most popular state to buy a first home.
This is great news considering first home buyers have been missing in the real estate market for most of the year. It seems that as soon as some of the first home buyer incentives finished last year, so too did first home buyers.
However with the property market showing more signs of stability and interest rates remaining steady, first home buyers are seeing more reasons to get out there and buy property.
It is great to see first home owner confidence returning to the real estate market and hopefully we see this trend continue to rise.