Say hello to a new home in the new year
Home loan experts are envisaging a great year for first home buyers looking to get on the property ladder, Australian Associated Press has reported.
Mortgage expert John Kolenda has told the news agency that the flat property prices combined with a slew of new low interest home loans will make entering the market a breeze this year.
He added that the first home buyers grant (FHBG) will also help people get into their own home, whether they plan on buying or building.
“Mortgage holders in the coming year are likely to benefit from the lowest variable <a href=”//mozo.com.au/“>interest rates ever offered in Australia as the cash rate could fall to 2.5 per cent,” Mr Kolenda predicted.
He added that the favourable home loan conditions are likely to last at least until the second half of the year.
Meanwhile, the Australian Industry Group’s Heather Ridout has told the Age that the FHBG and other economic reforms pushed through by Rudd in the last quarter of 2008 are likely to lead the country on the way to recovery.