20. January 2012 19:14
First home-buyers and trade buyers are keeping residential property active and it shows that they have continuing to rise in the market. According to a survey, most active sector in Australian home finance market in 20125 is expected to be the first home buyers. The data shows that 36% expect the first home buyers to dominate and penetrate the housing finance market and it started to anticipate an increase this year.
According to Commonwealth Bank Economist Michael Workman says, “The interest rate cuts and the FHOG scheme have had quite strong impact on lending. The steep declines (in housing loans) are over.” Because of the first home-buyers, there will be another growing market force with the home-buyers investment properties as their entry point to the property market.