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Property developer noticed increase in first home buyers

By Lyall Russell
17 March 2020 | 1 minute read
first home buyers 2 reb

Sekisui House has had an influx of interest from first home buyers, who have embraced the government’s scheme and low mortgage rates to get on the property ladder.

The property developer company and Professionals Narellan & District have noticed a resurgence of buyers in the south-west of Sydney.

“Property buyer confidence is back at record-high levels in the south-west. Factors that have contributed include a general lack of established product, low interest rates, affordability of current housing stock, easing of lending and low media attention,” Professionals director Steve Diggins said.

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“Buyers and sellers now have the confidence to move, obtain a good sale price and pay a fair purchase price. First home buyers are leading the charge followed by investors, upsizers and downsizers.”

Gledswood Hills, Gregory Hills, Oran Park and Spring Farm have been the most sought-after areas, and most people prefer a newer, three- to four-bedroom freestanding house, he said.

The same uplift in interest was echoed at Sekisui House.

“We have experienced a considerable uplift in sales at The Hermitage over the past six months when compared to the beginning of 2019,” Sekisui House sales and marketing manager Craig Barnes said.

“This has in part been driven by an upsurge in savvy first home buyers seeking to acquire high-end property within exclusive master-planned communities. We’re beginning to witness a distinct shift in the needs and wants of first home buyers, which is not necessarily being driven by price.”

Typically, the business works with second home buyers, but over the past quarter, the number of first home buyers they deal with has doubled.

Although the area is a long commute to the Sydney CBD, the district offers a lifestyle with walking tracks, parks and a good school that attracted first home buyer Ishan Joshi and his wife, Pragati Sharma.

“It was unlike anything else in the area — the green vibe and beautiful surroundings were captivating,” Mr Joshi said.

Property developer noticed increase in first home buyers
first home buyers 2 reb
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