Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
subscribe to our newsletter
subscribe to our newsletter

More Australians gearing up to enter property market

New research has revealed that more Australians are aiming to become homeowners in 2016 despite recent talks of a property market slowdown.

According to a poll by Yellow Brick Road, 40 per cent of participants said their financial New Year’s resolution is to save for a first home or investment property.

“In this current environment, you might expect to see property taking a back seat to financial aspirations such as saving and budgeting or consolidating debts however the Australian dream of owning property and the security that comes with it is still dominant,” Yellow Brick Road spokesperson Lyndsey Douglas said.

Advertisement
Advertisement

Ms Douglas said the predicted cooling in previous property market hot spots will present both advantages and challenges to those looking to buy this year.

“The upside is that it might ease some of the affordability pressures faced by first home buyers as competition from other buyers declines,” she said.

“The challenge though is increased rates and tougher calls by lenders who are having to turn more prospective borrowers down based on their ability to service their mortgage.”

Meanwhile, the Yellow Brick Road research also found that 25 per cent of respondents have a New Year’s resolution to decrease debts, while 15 per cent want to budget.

Fifteen per cent said they are aiming to travel, seven per cent want to get their superannuation sorted and two per cent said they simply want to enjoy their disposable income.

[Related: Property group sees 'unprecedented' foreign investment in 2015]

More Australians gearing up to enter property market
mortgagebusiness

Latest News

A major insurance provider has announced that it would restrict its offering of lender’s mortgage insurance in light of emerging risks ass...

Lenders will be allowed to extend their pre-approval period for borrowers using the First Home Loan Deposit Scheme given the coronavirus pan...

The federal government has announced several changes to the Takeovers Panel, which include the reappointment of an ANZ executive and the ap...

FROM THE WEB
podcast

LATEST PODCAST: Further relief for SMEs and borrowers

Do you expect COVID-19 to reduce or increase your business flows?

Why we’ll keep delivering for our communities in the face of COVID-19

alex

As Australia tries to keep pace with a rapidly changing business and social landscape in the wake of COVID-19, Momentum Media is leading the way delivering essential content to our communities, writes Alex Whitlock, director of Mortgage Business.

Read more

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.