First time buyers are expected to be the major players in the property market this year, according to a nationwide poll of mortgage brokers.
The Loan Market poll of 252 of its brokers found that 36% of respondents expected first time buyers to dominate the housing finance market in 2012.
Investors came in at a close second, with 33% of respondents picking out Australia’s property investors as this year’s expected dominant force, while refinancers came in third with 30%.
"Our brokers are divided on which consumer group will dominate in 2012, but the majority think first time buyers will be the most active," said Loan Market chief operating officer Dean Rushton.
He went on to add that dual interest rate cuts during the final quarter of 2011 have helped first home buyers to emerge from their hibernation.
"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.
Last year also provided evidence that first time buyers are deciding to purchase investment properties as a means to getting a foot on the property ladder, rather than going down the traditional route of buying their own home, said Rushton.
Are you an investor or first home buyer with high hopes for 2012? Share your thoughts on the Your Investment Property forum.
Lending criteria unlikely to relax in 2012
Refinancers boost real estate activity
Mortgage arrears continue to fall
With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now
Top Suburbs :
Get help financing your investment
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local expert Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus, our mortgage broking service is at no cost to you.
We value your privacy and treat all your information seriously - you can check out