Ensure you never miss an issue of the
real estate business bulletin
FHBs eye market return

FHBs eye market return

by Reporter 0 comments

Staff Reporter

The number of first home buyers in the market could be set to grow as deposit requirements ease.

New research by CANSTAR CANNEX found the flat housing market is also opening up opportunities for first home buyers.

While capital city home prices have increased in value, demand is no longer driving property prices.

“We’re seeing property staying on the market for longer, giving more room for property buyers to negotiate the price down,” CANSTAR CANNEX financial analyst Mitchell Watson said.

“Affordability always has been, and probably always will be, the biggest hurdle first home buyers have to clear and the fact that property is not selling as frantically as it was a couple of years ago should give prospective buyers more breathing space.”

First home buyers have taken an added hit with the demise of the government boost, however, lenders are showing signs of relaxing their loan-to-value ratios, or the amount of money they will lend on a property.

“In the last 12 months we’ve seen at least 25 lenders ease their deposit requirements and increase their LVRs to assist borrowers getting into the market for the first time,” Mr Watson said.

le>.b-autolinks{text-decoration:underline}.b-autolinkshadowbox { display: inline; position: relative; cursor: pointer; color: #428bca;} .b-autolinkshadowbox:hover > span { display: block !important; } .b-autolinkshadowbox__links { white-space: nowrap; z-index: 999; display: none; left: 0; border: 1px solid #bfbfbf; border-radius: 5px; font-size: 12px; top: 12px;color: #000; padding: 10px; position: absolute; background-color: #FFF; box-shadow: 0px 0px 20px 1px #bfbfbf; } .b-autolinkshadowbox__links > a { display: block; padding: 3px 0; }
FHBs eye market return
lawyersweekly logo
promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

The REB Top 100 Agents ranking is the foremost ranking of agents in Australia. It has set the bar for excellence in Australian real estate. To be ranked as an REB Top 100 Agent is the standard real estate professionals strive for. See the full 2018 ranking here!

featured podcast

featured podcast
The difference between an average agent and one who dominates

McGrath Crows Nest’s Peter Chauncy is number 10 in this year’s REB Top 100 Agents ranking. Peter, however, is more likely not surprised ...

View all podcasts

Would you consider working for Purplebricks or a similar 'DIY' model?

Yes (7.2%)
No (80.9%)
Perhaps - make me an offer (12%)

Total votes: 209
The voting for this poll has ended on: July 13, 2018
Do you have an industry update?