realestatebusiness logo
Subscribe to our newsletter SIGN UP

First home buyer activity to continue

27 July 2009 Reporter

Real estate agents can expect first time buyer activity to remain after the beefed-up grant expires according to a new consumer survey.

Almost 60 per cent of those who do not own homes expect to buy in the next 12 months, a survey by Bankwest and the Mortgage and Finance Association of Australia (MFAA) has found.

According to the survey, this is up from 39 per cent last November.

MFAA chief executive Phil Naylor said historically low interest rates rather than the first home owners grant were the key driver for most would-be buyers.

Only 6.2 per cent of respondents said the first home owners grant was an incentive to buy now.

"The interest rate is the more attractive point because that's an ongoing thing," Mr Naylor said.

"It enabled you to make decisions about what sort of loan you can service and so forth and I think that's probably the driving force."

First home buyer activity to continue
lawyersweekly logo
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast

Where is the biggest threat to agents in 2019?

3rd party lead generation companies
DIY models discounting sales commission
Prop-tech firms cutting out the agent value proposition
A yet unidentified proper disruptor – like Uber or Airbnb
None of the above. There is no threat.
Do you have an industry update?
Ensure you never miss an issue of the Real Estate Business Bulletin. Enter your email to receive the latest real estate advice and tools to help you sell.