First-home buyers reluctant to commit

by Caroline Dann03 Sep 2012

RAMS’ annual first home buyers’ survey has revealed a strong reluctance to commit to a purchase, despite optimal buying conditions.

 
It found only 17% were seeking to buy in the next three months, despite nearly 75% of respondents claiming now was a good time to buy.
 
Two-thirds are seeking to buy in the next 12 months, confirming a pervasive ‘wait-and-see’ approach.
 
RAMS’ chief executive Melos Sulicich said a general lack of confidence and higher rents were halting activity in the first-home buyers’ market.
 
“[They] told us some of the key challenges to saving for home loan deposit are paying an average of $320 per week in rent, having unexpected expenses and the general cost of living,” he said.
 
“Good deals are out there for first home buyers but a general lack of confidence to take the first step may see some miss out on their ideal property to savvy investors.”

COMMENTS

  • by sidbroker 3/09/2012 10:25:59 AM

    Things will get better with a change of Federal Govt.