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FTB finance proportions 'trending back to normal'

The number of first-time buyers entering the Australian property market is returning to normal levels.

Financial proportions for first-time buyers (FTBs) of Australian property are trending back to normal at present, the First Home Buyer Index has revealed.

Australian Property Investor reports the index from RateCity.com.au for the autumn quarter of 2012 demonstrates how the Australian Capital Territory (ACT) is leading the way in the resurgence of FTB activity.

It claimed that lower interest rates have acted as a significant driver for this growth over recent months, with the ACT particularly benefiting due to having the highest average household income in the nation, coupled with a relatively low FTB average loan size.

Michelle Hutchison of the data provider commented that improved affordability over recent months has triggered a significant upturn in the number of FTBs entering the market.

Elsewhere, Standard & Poor's recently published statistics highlighting a downturn in the level of mortgage arrears being witnessed across the country for those who already own their own home.

Posted by Steve Douglas

- first, sales, property, mortgage

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