First homebuyer comeback


First homebuyer comeback

Posted on Monday, September 17 2012 at 4:45 PM

First homebuyer finance proportions are trending back to normal levels experienced prior to the global financial crisis (GFC), and according to the RateCity.com.au First Home Buyer Index for the Autumn quarter 2012, the next wave could be building.

RateCity.com.au’s Michelle
Hutchison says the index reports that improved affordability has been a trigger
for first homebuyers to re-enter the market, largely due to lower interest
rates.

The Australian Capital Territory
was the most affordable state for first homebuyers, according to the index,
largely due to having the highest average household income in the nation and
relatively low first homebuyer average loan size.

In contrast, New South Wales
recorded the highest income to repayment ratio, due to it being one of the
pricier states to buy property.

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