- December 18, 2018
- Posted by: Rogers Property Group
- Category: Australia Home Owners, Australian Property Market, International Property Market, Latest News
While the media likes to present doom and gloom regarding Australia’s property market things are nowhere near as bad as they like to portray. The proportion of First Home Buyers in the market has risen to 18.1% which is a 6 year high for the month of October.
The increase of from September to October was 2.2% which was the largest gain in 15 months.
The increase has been a direct consequence of a difference between the lending criteria for home buyers vs that of investors. Banks and government have made it so much easier for home buyers to get into the market while making it harder for investors to get finance. This combined with the banks worry about extra regulation from the Royal Commission means that investors are having a tough time getting finance. Having said that, those that can get finance are grabbing that opportunity and having a field day in the right markets.
Once the Royal Commission has passed in February and there are no extra regulations, banks will once again go for market share and make it easier to get finance.