Single Aussies take property ownership in their own hands

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The survey conducted by Mortgage Choice found that people looking to purchase their own home within two years were much more likely to buy alone compared to those who had bought a home less than two years ago. More than one in three homebuyers-to-be (35.8%) would make the property purchase on their own despite the low housing affordability levels. This compares with 17.6% who bought properties on their own over the past two years. Western Australia had the highest number of buyers to-be planning a solo acquisition (46.2%). However, the poor housing affordability in NSW appears to hold back potential homebuyers with only 32% planning to buy a property on their own within two years. The results show that even as Australians take longer to commit to a lifelong relationship, they are still keen to get into the property ladder according to Mortgage Choice's national corporate affairs manager Warren O'Rourke. "These days, it is becoming more common for people to commit to another person later in life but they are not letting this stop them from investing in the property market. Even low housing affordability is not a deterrent. They are empowering themselves as individuals and taking charge of a property portfolio on their own," he said. "The housing market looks set to continue to see more and more Australians taking out mortgages they have sole responsibility for. It is exciting to note that even a four-year period can make a significant difference in the home purchase intentions of Australians. We are curious to see what those figures will be by 2010," adds O'Rourke.

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Monday, Sep 25, 2017
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