Mortgage customers 'can use Facebook-like real estate site'

Mortgage customers can take advantage of a new "Facebook-like" real estate website that will enable them to search for suitable properties throughout Australia.

Created by Sydney home loan broker Darren Moffatt, Housenet allows people to advertise property for rent or sale, start discussions in the online forums, create events, write blogs and "follow" estate agents, the News Limited Network reports.

The website is seen as a handy alternative to paid listings and Mr Moffatt told the news provider it would give users a "unique experience".

"What we are trying to do is create a new category, social media real estate," he was quoted as saying.

The internet continues to play a major role in Australia's property sector and more house hunters are already using the web to compare the best home loans.

It is important that people shop around for a mortgage, as the interest rates offered by the nation's banks can vary drastically.

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