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

Nicholas Wallwork

Nicholas Wallwork

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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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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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