Home loans customers 'may have a greater choice'

Thursday 16 June 2011

Article by Mozo

Aussies who compare home loans and secure financing for a property purchase in the near future may be encouraged to learn that they might have a greater choice when they start their search.

Property buyers 'may have more choice'

Michael Cant, executive general manager of retail products and customers at the Commonwealth Bank, told the International Business Times that the number of sales recently have been the lowest for more than ten years.

Figures published by the financial institution and RP Data revealed that property values declined 2.1 per cent in the first three months of 2011, which may mean those with home loans can get more for their money.

"We're currently seeing a noticeable reduction in people purchasing properties and an increase in homes for sale," he added.

Despite this, the most recent Sydney Property Monitors research found that in the April Quarter, there was a 1.1 per cent rise in the cost of abodes in Sydney.

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