What’s In Store For First Home Buyers In 2018?
2018, A New Year For First Home Buyers
With 2018 well under way we asked our friends at Squirrel for their view on “What’s in store for first home buyers in 2018?”
2017 finished with a slow decline into Christmas off the back of low consumer confidence. For me, there are a number of reasons for this including media doom and gloom, the election, bank credit policy and just a general feel that 2017 really wasn’t all that flash of a year.
Bring on 2018 and it’s started a lot stronger. Consumer confidence appears to be higher and First Home buyers are back in the game. We are seeing a lot more enquiry and what’s great to see is that first home buyers are actually finding property and they are making decisions!
First Home Buyers Have Options
There is more stock on the market at more affordable prices. I saw a new build in Glen Innes the other day for $495,000! This is well within the affordable category.
For a look at some first home buyer options, take a look here.
Investors are still finding it tough to make the numbers work with low yields and high prices – they’re finding it even harder to actually borrow the money. With that, there is an opportunity for First Home buyers to get on the ladder.
Whilst I don’t see prices falling for the most part this year, I do think certain areas will feel some hurt – particularly in thoseinvestor dominated areas. Rates will remain low and this should keep the market turning over. As I’ve said above, it’s a good time to be a first home buyer.
Banks are still hard to get money out of. They are keeping their purse strings very tight and because of that, sound financial advice and a good broker is all the more important. 2018 should be a better year for First Home buyers so if you’re considering making the move then get in touch with Squirrel.
February 12, 2018 Blog