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Number of first home buyers up: survey

For Sale Board(
The number of Australians planning to buy their first home in the next 12 months has jumped by a fifth, as rising incomes prompt some would-be buyers to take advantage of a slowdown in the country’s property market.

The number of would-be first time home owners jumped to 476,000 during the September quarter from 396,000 in the three months ended June 30, according to a survey conducted for Wizard Home Loans.

The findings underscore how the country’s tight labour market is helping boost confidence among consumers even as the Reserve Bank of Australia raises interest rates.

“First home buyers are demonstrating a renewed confidence about their finances compared to 12 months ago and this should positively flow through to the property market,” company chairman Mark Bouris said…..more

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