FHBs told to buy now

FHBs told to buy now

27 May 2011 by Staff Reporter 0 comments

Staff Reporter

First home buyers looking to get their foot onto the property ladder should act now, according to PRDnationwide.

“It’s an extremely good time to invest – I believe that house prices will be higher next year than this year so now is the opportunity,” PRDnationwide New Farm’s Adam Gray said.

According to Mr Gray, first home buyers that are not in a position to purchase right now, should look to team up with a relative or friend.

“They can do this as tenants in common so they own a certain percentage of the property,” he said.

Mr Gray suggested first home buyers consider buying a studio apartment.

“Although they are not very big, they could be a great stepping stone for an individual to get onto the property ladder.”

Jeremy Francis from PRDnationwide Inner North in Canberra said for many renters – saving for a deposit seems unreachable – and their spending habits are erratic.

“They should increase the amount they pay in rent to their agent or if they are living at home to their parents by as much as they can afford until it hurts,” he said.

“The agent or parent puts the extra away in a bank account – say an extra $200 per week – after two years they will have over $20,000 which is a big step in the right direction.”

Staff Reporter

First home buyers looking to get their foot onto the property ladder should act now, according to PRDnationwide.

“It’s an extremely good time to invest – I believe that house prices will be higher next year than this year so now is the opportunity,” PRDnationwide New Farm’s Adam Gray said.

According to Mr Gray, first home buyers that are not in a position to purchase right now, should look to team up with a relative or friend.

“They can do this as tenants in common so they own a certain percentage of the property,” he said.

Mr Gray suggested first home buyers consider buying a studio apartment.

“Although they are not very big, they could be a great stepping stone for an individual to get onto the property ladder.”

Jeremy Francis from PRDnationwide Inner North in Canberra said for many renters – saving for a deposit seems unreachable – and their spending habits are erratic.

“They should increase the amount they pay in rent to their agent or if they are living at home to their parents by as much as they can afford until it hurts,” he said.

“The agent or parent puts the extra away in a bank account – say an extra $200 per week – after two years they will have over $20,000 which is a big step in the right direction.”

promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2016

With a combined sales volume of $13 billion in 2016, the Top 100 Agents ranking represents the very best sales agents in Australia. Find out what sets them apart and learn their secrets to success.

featured podcast

featured podcast
REVEALED: The 10 best agents in Australia for 2017

For the first time ever, the top 10 agents in the REB Top 100 Agents ranking are revealed in this exclusive podcast. ...

View all podcasts

Are dodgy agents being punished enough?

Yes (8.6%)
No (55%)
Only in some states (2.3%)
Not all dodgy agents are being found out (34.1%)

Total votes: 220
The voting for this poll has ended on: April 15, 2017
Do you have an industry update?