The report shows that first home buyers have been strongly returning to the market, with lending to that segment reaching the highest level since 2010. The surge is expected to continue for another 12 months at least.
In 2017, lending to first home buyers increased by 74% in Sydney, and nearly 30% across the rest of the country.
“We haven’t seen the first home buyer market this strong since the government’s 2008 stimulus plan following the Global Financial Crisis, which saw $1.5bn allocated to first home buyers,”. Affordability and first home buyer incentives from some state governments have contributed to the volume increase of first home buyers. “A mortgage is, undoubtedly for most people, the largest financial commitment that they’re ever going to make in their life. That’s particularly pertinent for the first home buyer segment of the market,”. “Our business as brokers is all about helping people get into a home. But we’re also conscious that it’s just as important that once they’re in there, they can actually stay there.” Need to secure a great low interest Home Loan? Call Cairns Mortgage Brokers on 07 40579746
With over 20 years experience in Home Loan Lending and Financial Planning, You can feel confident Cairns Mortgage Brokers will get you the best deal on the market. Call us today: 4057 9746