Housing demand 'steaming'

Demand for property among first-home buyers and other groups in Australia is “steaming”, NineMSN’s housing expert Sarah Mills has claimed.

In a recent article, she notes that while commentators are divided on whether the market will nosedive further or climb in 2009, one dead cert is that there will still be plenty of buyers on estate agents’ books.

She noted that demand among first-home buyers has been buoyed by strong immigration figures, with around 330,000 people coming to reside in Oz every year.

And despite the uncertainty, she added that low interest home loans coming on to the market off the back of Reserve Bank cuts will be a definite plus in the coming year.

However, she did warn that getting approval for home loans and other lines of credit may be more difficult in 2009.

Meanwhile, Aussie Home Loans chief John Symond has recently told NineMSN that people should hold off fixed low-interest home loans until about April, anticipating that the Reserve could drop rates further.ADNFCR-1761-ID-18937680-ADNFCR