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First homebuyers rush into market

Having steered clear of the property market for most of the year, first home buyers are storming back, Australian mortgage broker AFG says.
Having steered clear of the property market for most of the year, first home buyers are storming back, Australian mortgage broker AFG says.

AFG said its Mortgage Index shows that the volume of loans arranged by AFG for first home buyers has increased by 120 per cent in three months.

The mortgage broker said that in November, it arranged $474 million in home loans for first time buyers.

This compares to the $215 million it arranged for first time buyers in August.

AFG general manager sales and operations, Mark Hewitt, said that in many ways there had never been a better time to buy a first home.

"Mortgage repayments are significantly lower than they've been for a long time and may go even lower," he said.

"Property prices in many areas have become more affordable.

"And buyers are keen to take advantage of generous Government incentives while they're still on the table."

- property, first, homebuyer, grant

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