Home
  • plan
  • Invest
  • Property
  • enquire now
  • Learn
Home
DPN
  • plan
  • Invest
  • Property
  • enquire now
  • Learn

FHBs to dominate in 2012

First home buyers are expected to be the most active player in the Australian home finance market during 2012, a national survey has found.

TAGS

Beginner (574) / Intermediate (540) / Expert (564)

First home buyers are expected to be the most active player in the Australian home finance market during 2012, a national survey has found.

According to a recent poll by Loan Market Group, 36 per cent of brokers expect first home buyers to dominate the housing finance market this year.

Of the 252 respondents, 33 per cent said investors would be the dominant market segment, while 30 per cent said it would be refinancers.

"Our brokers are divided on which consumer group will dominate in 2012 but the majority think first home buyers will be the most active," Loan Market chief operating officer Dean Rushton said.

Mr Rushton said first home buyers were the consumer group to re-emerge from hibernation during 2011, spurred on by the Reserve Bank of Australia lowering the official cash rate twice during the final quarter of the year.

"2011 was a savings year for many potential home owners and with the likelihood of further interest rate reductions and softened property prices, 2012 appears to be primed for first home buyers to enter the market," he said.

Mr Rushton said investors were another growing market force and there was evidence last year of first home buyers also targeting investment properties as their entry point to the property market.

"Refinancing activity is also set to continue in 2012 with borrowers having a greater capacity to switch lenders and secure a better deal," he said.

"There can be as much as a percentage point difference between the variable home mortgage rates currently on offer and people are starting to realise it's worth shopping around."

 


Follow us on Twitter for more news, tips and inspiration.
Like us on Facebook and Google+ explore our Pinterest boards.

Like this article or found it helpful? Share it!

Newsletter

Receive our articles directly to your inbox

Next article

RBA eyes another rate cut

Go to articles list

Programs

Work with us
Giving back
Become an affiliate
Refer a friend
Help desk
Property Management
Finance

Locations

Head office
Australia
Hong Kong
Singapore

Contacts

Toll free in Australia
P. 1300 723 318
Outside of Australia
P. +61 2 9525 2033

Social Media

Newsletter

Terms of use | Privacy policy | Guarantees

This information is provided by DPN Pty Ltd ABN: 94 630 700 186 Australian Credit Licence 514759. DPN Finance Pty Ltd is an authorised credit representative 504129 and related entity of DPN. Credit for Dream Big 100% Offset and Work Smart 100% Offset is provided by Adelaide Bank a division of Bendigo and Adelaide Bank Ltd, ABN 11 068 049 178 and Australian Credit Licence 237879. Casa Capace Operations Pty Ltd, NDIS provider number 4050038018 trading as Casa Capace.