¢  First home buyers – Recent survey

The Mortgage Finance Association of Australia and Bank West recently commissioned a survey into the activities of First Home Buyers. The following is a summary of their findings:

  16% of the first home buyers will wait until the first home owners grant finishes before purchasing a property

  50.7% believe now is a good time to buy of which 23% say it is due to lower interest rates and 6% say it is because of the grant

  23% believe house prices are too high and believe it is too risky to purchase in the current climate due to the state of the economy and rising unemployment.

  Of the one-third of despondence that do not own their own home 60% intend to purchase in the next 12 months.  This is up from 39% 6 months ago.

  118,150 grants have been distributed since October 2008.

  Last month 20,000 grants were distributed.