Home loans customers 'may struggle to find property hot spots'

Prospective home loans customers hoping to find a property hot spot have been warned that in the current market they may be difficult to locate.

Michael Yardney, director of Metropole Property Investment Strategists, observed that purchasing low-cost abodes could prove to be a costly mistake if not properly researched.

In the current climate, he recommended searching for property in suburban areas where infrastructure is being improved.

"It's harder to find a hot spot in a flat market and they often refer to emotionally driven areas with quick gains, making them risky and speculative," Mr Yardney stated.

However, he remarked that those considering taking out a home loan could benefit from looking at areas that are increasingly popular with younger people and where there is regeneration work being undertaken.

Aussies planning on going online to compare home loans may want to consider looking at mortgages from Credit Union Australia, which last month announced that it had reduced interest repayments on its fixed-rate options.

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