It’s a house buyers market in Australia
If you’re thinking of investing in your first property when you return to Australia, now’s the time to secure your mortgage and hit the house-hunting trail.
Property analyst Louis Christopher of SQM research told news.com.au he expected sellers to discount prices over the next six months as listings increased and outstripped demand. “We’re seeing a drop in total sales … it will be a great time to buy,” he said
The Australian Bureau of Statistics confirmed the value of loans for investment housing dropped by a seasonally adjusted 3.6 per cent to $7.3 billion from May. There was also a 5 per cent drop in the dwelling commitments for the construction of new houses
The figures are a far cry from claims that investors would pick up the slack in the market as first home buyers backed away due to the removal of economic stimulus measures.
Now, it seems, investors are too timid to make a move – a perfect time for you to strike