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First-time buyers 'return to property market'

The last two months have seen first-time buyers return to the Australian property market, according to AFG.

People looking to buy their first homes are returning to the Australian property market, according to one commentator.

Kevin Matthews, executive director for mortgage broker AFG, told the Australian newspaper that this has been proven by mortgage sales data from the last two months.

He went on to say that greater competition can now be seen between lenders when it comes to both price and policy.

Mr Matthews said that this supports not only entry-level home buyers, but property investors too.

"With property prices in many areas having stabilised, and some lenders prepared to lend up to 95 per cent of the property's value, property is becoming more accessible to first-home buyers and more attractive to investors," he told the newspaper.

Those looking to buy a new property in Australia may be interested to learn of a recent report from the Australian Bureau of Statistics, which revealed that $11.5 billion (£6.82 billion) was spent on constructing residential property in the country in the second quarter of the year.

Posted by Steve Douglas

- property, market, first, grant

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