First homebuyers dive in

Font size :

The number of first homebuyers planning to buy within the next 12 months has risen 6% to 523,000 according to research from Wizard Home Loans.

The research revealed that an increase in household income among first-time buyers was driving the buying trend.

Mark Bouris, Wizard chairman, said: "We're seeing the emergence of a new breed of higher-income first homebuyer, with their sights set firmly on the property market as a way to build their wealth."

The data shows that growth in average household incomes has been led by first homebuyers with household incomes of $140,000 or more. The intention to buy in this group grew from 7% to 22% during the quarter to March.

The data showed that the average household income in Australia has risen to $93,000 from around $70,000 at the same point last year. 

On a state-by-state basis, the intention to buy a first home increased in every state and territory except NSW, ACT and Western Australia.

Queensland increase 44% from 62,000 to 89,000, Victoria increased 4% from 110,000 to 114,000, while South Australia increased by 23% from 48,000 to 59,000. Intention to buy in Tasmania increased by a massive 133% from 3,000 to 7,000 first homebuyers.

The figure for NSW and ACT was an 8% decrease from 235,000 to 217,000 prospective first homebuyers.

Whether you are looking to buy your first home, move home, refinance, or invest in property, a mortgage broker can help. Access loans from all the major lenders, get help with paperwork – plus there is no charge for this service. Get help from a local mortgage broker

Mortgage News and Articles

Quirks in the QLD property market investors should be aware of Quirks in the QLD property market investors should be aware of

Interstate buyers should familiarise themselves with these quirks to avoid investment blunders Read more

CBA unveils new repayment simulator CBA unveils new repayment simulator The simulator will show customers the differences between different types of repayments ... Read more

How to tell when a housing market is cooling How to tell when a housing market is cooling You need to check clearance rates, listings, and the price gap, among other factors ... Read more

Growing demand for green apartments in Sydney Growing demand for green apartments in Sydney Both owner-occupiers and investors favour eco-friendly buildings for their energy-saving features and reduced environmental footprint ... Read more

More mortgage news and articles

Sponsored Links

Wednesday, Sep 27, 2017
Top Featured Rates
Top Bank Rates

Get help choosing the right home loan

Let us help you find the right home loan for your needs.

Tell us a bit about your circumstances:
  • Purpose of mortgage
  • Household Income
    $
  • How much do you want to borrow?
    $
  • How much deposit do you have?
    $
  • How much is your house worth?
    $
  • How much do you still owe on your mortgage?
    $
  • What type of mortgage do you have?


  • How much is your new home?
    $
  • How much do you want to borrow?
    $
  • How soon do you want a mortgage?
Next
  • First name
  • Last name
  • Where do you live?
  • Phone number

Special Offers

Related Keywords