First Home Buyers Power Housing Market07 July 2020 by News Desk
Australia Property Market has been boosted by government support aimed at first home buyers.
Along with necessary sellers and buyers there has been an increase in first home buyers actively looking for properties.
During the lockdown property market trends have been boosted by first home buyers that have needed to act on terms of their mortgage and loan conditions.
“First home buyers have a time limit on their home loan approval, normally between 3 and 6 months,” says Darrell Todd of thinkingAustralia.
Australia Property Market
“Many first home buyers were approaching the expiry for their mortgage pre-approval during lockdown, so they have pressed ahead with their purchase and have kept the Australia property market active during recent months.
“The majority of home buyers stay in the same property for many years so, if you take the long view, market fluctuations like we’re seeing now are always re-adjusted back upwards over 5, 10 or 20 years”.
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