Aussies 'still dream of owning a property'

Thursday 03 November 2011

Article by Mozo

While the number of buyers has declined, Aussies still dream of taking out home loans so they can own a property, according to one expert.

Aussies 'still want to own a property'

Lisa Montgomery, chief executive of Resi Mortgage, told News Limited that this aim is still "alive and well" in the country.

She cited figures from the Australian Prudential and Regulation Authority indicating a 16.5 per cent rise in the number of new account holders in the three months to June 2011 as evidence of this.

The expert observed that a growing number of first-time buyers are considering residences in regional areas and that some are even looking at investment properties.

"These figures suggest that those looking to buy their first home are embracing any and all initiatives to reach their goal," she commented.

According to the 2011 Mortgage Choice Saving & Spending Insights Survey, there may be an increase in the number of Aussies refinancing now that the Reserve Bank of Australia has reduced the cash rate.

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