Silver Lining for First Home Buyers

RP Data – A Good Time To Buy

“Interest rates have been on hold since November 2010 and recent Reserve Bank media comments suggest relatively slow rate movements for the rest of 2011”.

“RP Data Research shows it is a very good time for potential first home buyers who are confident about their employment prospects and have a solid track record of building savings and can therefore meet repayments with confidence”.

“Household incomes are growing at approximately 6 percent per annum, interest rates potential approaching the peak of the tightening cycle, rents increasing and house values going nowhere, buyers will see an improvement in their position”.

“With first time buyers now representing a bit less than 15 percent of all owner occupiers housing finance commitments it is likely that market activity in the first-time buyer market will increase in the medium term”.

RP Data’s Research Director: Tim Lawless