Our mortgage brokers are predicting quite a strong return to the market of first home buyers based on the number of pre-approvals for finance they are seeing currently. Timing seems to be about right. Investors are not returning strongly yet; prices have come down year on year between 15 and 20% depending on where you are buying and choice of property is much greater. We still hear of people waiting for the market to ‘bottom out’ but in the meantime the interest rates increase, and buyers will only know the market has bottomed out when month old statistics come out and the market and demand are on the rise again.
Get yourself ready by doing your due diligence up front. Finding and securing your first home is something to be treasured. Do it now!
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