50% of Aussies experience anxiety before an auction: St.George

You’ve found the perfect home that ticks all the boxes - safe neighbourhood, close to schools and public transport - but the only catch is the property is going under the hammer.

New research by St.George showed around half of Aussies experience anxiety and a bad nights sleep before an auction and 62% of home buyers don’t have a strategy.

The study also found more than half missed out on their dream home, as the bidding process became too competitive.

Bidding at auctions topped the list of the most difficult home buying process, followed by evaluating what properties provide good value (44%), and choosing the suburb to buy in (44%).

Mozo advises Australians on the hunt for a property to always sort out their home loan pre-approval before attending an auction by searching the home loan market for a competitive deal.

Andy Fell, General Manager Retail Banking at St.George said the survey results indicated some Australians are finding it challenging to take steps on the property ladder.

“St.George understands that purchasing a home is one of the biggest investments in your life. In response to the research findings, we’ve created HomeHero – an online hub to help our customers be more prepared and make owning a new home, easy.”