FHB activity may have slumped recently, but that doesn’t mean there are no more new buyers on the lookout for a bargain, Bankwest’s retail head of specialist banking Ian Rakhit has claimed.
According to Mr Rakhit, FHBs are currently eyeing the property market for an entry point.
“Interest rates are stable and there are definitely some bargains to be had. As such, there are still plenty of reasons and opportunities for new home buyers to get their foot on the property ladder,” Mr Rakhit told Real Estate Business.
“First home buyers are quietly confident at the moment.”
Genworth Financial’s latest Home Buyer Confidence Index found first home buyers are more confident than they were a year ago.
In addition, the Index found that FHBs are more comfortable with higher debt levels than other buyers and are happy to take on an LVR of more than 80 per cent.