Gen Y need some serious encouragement to get into the property market. Read on to discover why they're reluctant to get their foot on the property ladder.
Interest rate relief needs to go deeper if it is to sway Gen Y towards property, a survey has found.
Fifty per cent of 813 Gen Y respondents to a Loan Market survey have said that two consecutive monthly reductions in the cash rate had not made a difference to them in any way.
Another 32% said they had just been boosting their savings and more RBA rate cuts were needed.
Loan Market said the pressure was on the RBA to further reduce rates at its next board meeting.
Why getting a mortgage just got easier
Is your bank finding a way to “wallop” you?
Interest rates may not drop
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 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