The surge in first homebuyer activity reached a peak in March, declining for two consecutive months, according to the largest mortgage broker in Australia.
The Australian Finance Group (AFG) said in a report last week that 28.1% of all mortgages were arranged by first homebuyers in March, but that figure was down to 24.8% by May. That latest ratio is still above the historical average, but reveals a trend that the buying boom in the lower end of the market may be steadily tailing off and shifting to the middle.
While first homebuyer activity seems to have slowed, brokers are now gearing up for an increased level of interest from investors, with the latest AFG figures showing this segment is already starting to pick up in activity.
After an all-time low in March of 24.5%, investors accounted for 28% of loans in May, according to the report. Low rates and attractive rental yields have been enough to entice a growing number of investors towards a next purchase.
Whether you are looking to buy your first home, move home, refinance, or invest in property, a mortgage broker can help. Access loans from all the major lenders, get help with paperwork – plus there is no charge for this service. Get help from a local mortgage broker
Top Suburbs :
Get help with your investment property
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 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 and appointment is free.
We value your privacy and treat all your information seriously - you can check out