REIA president Malcolm Gunning said the proportion of first home buyers, in relation to owner-occupied housing financing, rose 15% and is at its highest since February 2014. In contrast, the value of investment housing commitment decreased by 0.9% in June, well down from its peak in 2015.
What does this mean for first home buyers?
Queensland is one of the best places for young Aussies to get on the property ladder. With average asking price of $476,406 for a house in Brisbane, it’s a lot more affordable than other major cities such as Sydney ($799,000).
Let us take the stress out of buying your first home. Your local mortgage broker can find you the right home loan, with the right lender and the right services.
Talk to your local mortgage broker by filling out the form below.
Do you know how much you can afford to borrow? Don’t guess! CLICK HERE to use our Borrowing Power Calculator. It is free to use and will give you a clear indication on how much you will be able to borrow for you first home.