As if the increasing number of investors looking to buy an investment property wasn’t making the property market competitive enough, some recent data from one of the internet property portals has confirmed what many of us have been suspecting for several months now…the first home buyers are back in the market in a big way!
Realestateview.com.au conducted a survey of over 8,000 property seekers in August to take a fresh look at the demographics the current market. This study found that first home buyers now comprise almost 30% of the total market, making them the single largest buyer segment in today’s market.
Interestingly, they also found that 47% of the current pool of first home buyers have only been looking for a property for 3 months or less, so those people who thought we would see a lull in first home activity when the State Government cut the First Home Buyer’s Grant for established homes at the end of June may need to reassess their forecasts!
