[fusion_builder_container hundred_percent=”no” hundred_percent_height=”no” hundred_percent_height_scroll=”no” hundred_percent_height_center_content=”yes” equal_height_columns=”no” menu_anchor=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” status=”published” publish_date=”” class=”” id=”” background_color=”” background_image=”” background_position=”center center” background_repeat=”no-repeat” fade=”no” background_parallax=”none” enable_mobile=”no” parallax_speed=”0.3″ video_mp4=”” video_webm=”” video_ogv=”” video_url=”” video_aspect_ratio=”16:9″ video_loop=”yes” video_mute=”yes” video_preview_image=”” border_size=”” border_color=”” border_style=”solid” margin_top=”” margin_bottom=”” padding_top=”” padding_right=”” padding_bottom=”” padding_left=””][fusion_builder_row][fusion_builder_column type=”1_1″ spacing=”” center_content=”no” link=”” target=”_self” min_height=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” background_color=”” background_image=”” background_image_id=”” background_position=”left top” background_repeat=”no-repeat” hover_type=”none” border_size=”0″ border_color=”” border_style=”solid” border_position=”all” border_radius=”” box_shadow=”no” dimension_box_shadow=”” box_shadow_blur=”0″ box_shadow_spread=”0″ box_shadow_color=”” box_shadow_style=”” padding_top=”” padding_right=”” padding_bottom=”” padding_left=”” margin_top=”” margin_bottom=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” last=”no”][fusion_text columns=”” column_min_width=”” column_spacing=”” rule_style=”default” rule_size=”” rule_color=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=””]First-home buyers are back — and they are back in large numbers. The latest ABS data shows 28.5% of home loan commitments in May were first-homebuyers – compared to 20.4% two years ago.
Investors have dropped off, putting first-time buyers in the prime position. Realestate.com.au’s chief economist Nerida Conisbee says this is a perfect time for aspiring property owners to take action.
“First-home buyers do have the property market to themselves now, whereas previously they were competing with investors,” she says.
The Federal Government will roll out a scheme in January allowing first-home buyers to access finance with a deposit of only 5%. The scheme will save FHBs up to $10,000 in lenders mortgage insurance charges.
The Mortgage and Finance Association of Australia’s chief executive officer, Mike Felton, says a combination of factors have made it more appealing for FHBs to enter into the market.
“They have lower interest rates, lower personal taxes and a lowered serviceability, which has turned the tables in favour of the first-home buyer,” he says.[/fusion_text][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]
