House to be biggest purchase in Australia this year, report says

Tuesday 24 August 2010

Article by Mozo

People looking to compare the Australian home loan market could be among those interested in the findings of a recent report.

According to the latest Homeloans Homebuyer Barometer, buying a house is set to be the biggest spend in all states apart from South Australia during this financial year.

The report also showed that purchasing shares ranked last in each and every state.

Figures from the report showed that 29 per cent of respondents in New South Wales have set buying a home as their top spending priority, followed by Victoria and Western Australia (26 per cent) and Queensland (23 per cent).

In South Australia however, going on holiday was seen as the top spending priority.

Will Keall, Homeloans' national marketing manager, said: "Findings from the Homeloans Homebuyer Barometer confirm that Australians' passion for property continues to outstrip other major purchases.

"Bricks and mortar investment is obviously a permanent fixture on the must-have list of Australians."
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