St. George Bank survey reveals 1 in 5 Aussie first-home buyers want to buy this Spring
St. George Bank’s recent Spring-time Housing Survey has revealed that 56% of Aussie first-home buyers know exactly what they want in a new home, with 72% feeling confident to lock in a new home in the current low-interest-rate environment.
“As the current market conditions are making it a prime time to buy, it’s positive to see that homebuyers are going into the process equipped with a good idea of what they’re looking for,” said St. George Bank General Manager, Ross Miller.
According to the study, of all the features on first-home buyer’s wishlists, the non-negotiables were backyards (63%), quiet roads (55%), easy neighbours (53%), wardrobe space (46%) and even the height of the showerhead (48%).
Another big deciding factor for Aussie first home buyers when picking out a new home was location, with preference to family-friendly neighbourhoods (64%), views (61%), proximity to sporting facilities (52%), cafes and bars (46%) and access to food delivery options (42%).
“Whether it’s a backyard big enough for the kids, friendly neighbours, great views or being close to a local café or pub, Aussies are prioritising easy living and family-friendly features when it comes to their first home hit-list,” Miller said.
St George launches new online home loan application process
The survey found that 1 in 5 Aussie first-home buyers want to buy in the current Spring property season, however, it seems many feel overwhelmed by the challenging home loan application process.
In fact, 56% admitted they’d be more comfortable applying for a home loan under the guidance of an expert, 44% if there was less paperwork and 35% if an online application process was available. Taking this into account, St George Bank just launched a new online home loan application process.
“The application process can sometimes seem tricky, that’s why we have launched a digital paperless process, which provides information for every stage of the home buying journey, so households can focus their energy on finding their perfect home,” said Miller.
“Our customers have enjoyed the paperless, online home loan application because it allows you to complete your application through an easy to use 24/7 digital app, with a clear step by step process to fill in at your own pace – all within the comfort from your home and with help available at the click of a button.”
It’s been low-rate home loans galore since all the RBA rate cuts over the past few months, so, if you’re looking to buy your first home, get in quick while the market’s still in good shape! Get the ball rolling by running a quick home loan comparison to help you find a home loan deal that’s right for you.
Home loan comparisons on Mozo
Promoted
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Fixed Home Loan
- Owner Occupier
- Principal and Interest
- Interest rate
-
5.84
%
p.a.
Fixed 1 years
- Comparison rate
-
5.93
%
p.a.
- Initial monthly repayment
-
$4,106
Competitive fixed rate on up to a 30 year loan term. No application fees to pay. Additional repayments up to $20,000 per year without penalty. Free online redraw. Optional 100% offset feature ($10/month) 10% minimum deposit. Fees & charges apply, Australian Credit Licence 237879 is held by Bendigo and Adelaide Bank Limited, the credit provider.
- Interest rate
-
5.54
%
p.a.
Fixed 2 years
- Comparison rate
-
5.93
%
p.a.
- Upfront fees
-
$495
- Ongoing fees
-
$0.00
- Discharge fee
-
$325.00
- Extra repayments
-
- Redraw facility
-
yes - free
- Offset account
-
yes- optional with $10/month
- Maximum loan to value ratio
- 90.00%
- Minimum borrowing amount
- $50,000
- Maximum borrowing amount
- $3,000,000
- Type of mortgage
- Fixed
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- -
- Special offers
- -
Read our Mozo Review to learn more about this NRMA Insurance Fixed Home Loan
Go to site
-
Fixed Home Loan
- Owner Occupier
- Principal and Interest
- Interest rate
-
5.84
%
p.a.
Fixed 1 years
- Comparison rate
-
5.93
%
p.a.
- Initial monthly repayment
-
$4,106
Competitive fixed rate on up to a 30 year loan term. No application fees to pay. Additional repayments up to $20,000 per year without penalty. Free online redraw. Optional 100% offset feature ($10/month) 10% minimum deposit. Fees & charges apply, Australian Credit Licence 237879 is held by Bendigo and Adelaide Bank Limited, the credit provider.
- Interest rate
-
5.54
%
p.a.
Fixed 2 years
- Comparison rate
-
5.93
%
p.a.
- Upfront fees
-
$495
- Ongoing fees
-
$0.00
- Discharge fee
-
$325.00
- Extra repayments
-
- Redraw facility
-
yes - free
- Offset account
-
yes- optional with $10/month
- Maximum loan to value ratio
- 90.00%
- Minimum borrowing amount
- $50,000
- Maximum borrowing amount
- $3,000,000
- Type of mortgage
- Fixed
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- -
- Special offers
- -
Read our Mozo Review to learn more about this NRMA Insurance Fixed Home Loan
Go to site -
Variable Home Loan
- Owner Occupier
- Principal and Interest
- Interest rate
-
5.98
%
p.a.
Variable
- Comparison rate
-
6.02
%
p.a.
- Initial monthly repayment
-
$4,308
Competitive variable rate on up to a 30 year loan term. No application fees to pay. Unlimited additional repayments. Free online redraw. Optional 100% offset feature ($10/month) 10% minimum deposit. Fees & charges apply, Australian Credit Licence 237879 is held by Bendigo and Adelaide Bank Limited, the credit provider.
- Interest rate
-
5.98
%
p.a.
Variable
- Comparison rate
-
6.02
%
p.a.
- Upfront fees
-
$495
- Ongoing fees
-
$0.00
- Discharge fee
-
$325.00
- Extra repayments
-
- Redraw facility
-
yes - free
- Offset account
-
yes- optional with $10/month
- Maximum loan to value ratio
- 90.00%
- Minimum borrowing amount
- $50,000
- Maximum borrowing amount
- $3,000,000
- Type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- -
- Special offers
- -
Read our Mozo Review to learn more about this NRMA Insurance Variable Home Loan
Go to site -
Simple Home Loan Variable
- Owner-Occupied
- Principal and Interest
- LVR>70%
- Interest rate
-
6.19
%
p.a.
Variable
- Comparison rate
-
6.19
%
p.a.
- Initial monthly repayment
-
$4,405
Enjoy a low variable rate with no application, ongoing or monthly fees to pay. Access your money via internet banking at any time with free redraws. Make additional repayments at any time. Available for owner occupied, investment and interest only repayments.
- Interest rate
-
6.19
%
p.a.
Variable
- Comparison rate
-
6.19
%
p.a.
- Upfront fees
-
$0
- Ongoing fees
-
$0.00
- Discharge fee
-
$175.00
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Offset account
-
no
- Maximum loan to value ratio
- 90.00%
- Minimum borrowing amount
- $150,000
- Maximum borrowing amount
- $3,500,000
- Type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special offers
- -
Read our Mozo Review to learn more about this First Option Bank Simple Home Loan Variable
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Discounted Home Value Loan
- Owner Occupier
- Principal & Interest
- LVR 80-90%
- Interest rate
-
6.39
%
p.a.
Variable
- Comparison rate
-
6.39
%
p.a.
- Initial monthly repayment
-
$4,499
Enjoy competitive rates for owner occupiers. Enjoy unlimited free extra repayments. Flexibility to redraw additional payments for free. No ongoing monthly service fee. Settlement fee waived on new borrowings from $50,000 (T&Cs apply).
- Interest rate
-
6.39
%
p.a.
Variable
- Comparison rate
-
6.39
%
p.a.
- Upfront fees
-
$0
- Ongoing fees
-
$0.00
- Discharge fee
-
$300.00
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Offset account
-
no
- Maximum loan to value ratio
- 90.00%
- Minimum borrowing amount
- $50,000
- Maximum borrowing amount
- $15,000,000
- Type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special offers
- -
Read our Mozo Review to learn more about this HSBC Discounted Home Value Loan
Your selected home loans
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* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
** Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.
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