More first time buyers bought property in Oz in 2009 than ever before, report shows

Discussion in 'Australia Property' started by Nicholas Wallwork, Feb 23, 2010.

  1. Nicholas Wallwork

    Nicholas Wallwork Editor-in-Chief Staff Member Premium Member

    [​IMG]First time buyers leapt to the highest level on record in Australia during last year, with 191,000*taking their first step on the property ladder, new research shows.

    Last year saw almost 70,000 more first time buyers pile into the market than in 2008, a 55%*leap, according to figures from property research firm RP Data.



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  2. Shane Australia

    Shane Australia New Member

    This is true, but consider the effect when the interest rates (inevitably) rise again back to their median levels ... there may be a number of 'cheaper' properties on the market when the first time buyers realise they didn't do their sums correctly.
    The banks do factor in a number of rate rises when conducting the servicing ability, but the point remains valid in my eyes.
     
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