Brokers see surge in First Home Buyers

A broker poll has found refinancers and first homebuyers are driving the housing finance market in 2012.

The Loan Market poll asked brokers which group they have received the highest number of enquiries from since the beginning of the year. Forty-one per cent of the company’s brokers tipped first homebuyers as most active. A Loan Market spokesperson claimed the surge of first homebuyer activity came after a “subdued” 2011 in which potential buyers built up their savings.

“The enquiries from first homebuyers this year are largely made up buyers with significant savings and thorough awareness of the lending landscape,” he said.

While respondents to the poll most commonly pointed to first time buyers as the main drivers of activity, 36% said refinancers had provided the most enquiries. Twenty per cent said property investors had been most active, while only 3% pointed to self-employed borrowers.

AUSTRALIAN BROKER NEWS

Author: Lynne Cox

She is a Mortgage Broker and holds an Australian Credit Licence # 365386. She has been involved in the Mortgage Broking Industry since May 1996 but has been involved in small business since 1977. Lynne is a licensed finance broker. She was the President of the Finance Brokers Association of Australia until March 2004 where she is now a Life Member, and she was also a Member of the Finance Brokers Supervisory Board until it disbanded in October 2003. View all posts by Lynne Cox