St.George launches brand new Property App for first home buyers
24 Feb 2020
First home buying intentions are on the rise according to new figures released this morning by St.George Bank, with three million first time buyers set to dive into the Australian property market in the next five years - a 34% increase on 2018 figures.
That’s according to the 2020 St.George Home Buying Survey which canvassed the opinions of nearly 1,500 Australians across the country between November and December 2019.
While the results showed a keen interest among many Australians to enter the housing market for the first time, the survey also revealed what many first time buyers perceive as a major challenge to buying a home.
And no, it’s not just the cost of putting together a home loan deposit.
90% of first home buyers believe that the whole home buying process is antiquated and needs to ‘catch up’ to the digital age.
RELATED: 6,500 loans being processed under the First Home Loan Deposit Scheme so far
Meanwhile, a further 84% of first time buyers reported in the survey that the home loan application process was both time consuming and inconvenient.
That’s perhaps unsurprising given that St.George also reported that the process of finding the ‘right’ property and then applying for a home loan takes first home buyers the equivalent of a full working week (44 hours).
To help streamline the entire process for first time buyers from start to finish, St.George has come up with its very own digital solution though. Introducing...
The St.George Property app
Available for download to Apple users, St.George Bank has launched its very own Property App.
The app not only allows users to search for properties in their desired location or suburb, it features what the bank has described as ‘Australian-first’ search technology which matches prospective buyers with homes based on their ‘lifestyle preferences’ and ‘points of interest’.
According to Ross Miller, General Manager for St.George Bank, the ‘game changing’ feature allows house hunters to search based on their ‘ideal wish list’ or ‘non negotiables’ instead of just by location, potentially opening up far more options and locations that buyers may not have initially considered.
“For example if being beachside and close to schools is top of your list, searching by these functions may reveal a whole range of ideal properties in previously unconsidered locations and, within your price range,” he said.
“Users can prioritise commuting times, by what method of transport, proximity to bars and restaurants and even their parents’ house or schools. They can also set their search for what type of area they want to live in such as ‘beachy’, ‘leafy’ or city.”
Of course, buyers will still be able to search for properties via a suburb or postcode, as well as filter results based on features such as price range, property type (land, house, apartment) and property features (bedrooms, bathrooms, car spaces).
There’s also a financial component to the app. St.George customers will be able to gain insights such as how much they’ll need to borrow for a certain property and how much loan loan repayments will be.
RELATED: First home buyers - what you need to know
Getting ready to start the hunt for your first home but not sure where to start comparing mortgages? Check out some of the hot home loan offers in the table below, or head on over to Mozo’s dedicated first home loans comparison hub for even more great rates.
Compare home loans 2020 - rates updated daily
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Promoted
UBank
2.59% p.a. variable
2.59% p.a.
$1234
Product details Close detailsUBank UHomeLoan - Discount Offer
Owner Occupier, Principal & Interest
2.59% p.a. variable
2.59% p.a.
Enjoy a super low rate, $0 fees and easy application with the Mozo Experts Choice Home Lender Bank of the Year.^ Free redraw with flexible repayments. Min 20% deposit.
UHomeLoan - Discount Offer
Enjoy a super low rate, $0 fees and easy application with the Mozo Experts Choice Home Lender Bank of the Year.^ Free redraw with flexible repayments. Min 20% deposit.
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2.59% p.a. variable
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2.59% p.a.
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$0
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$0.00
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$0.00
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yes - free
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yes - free
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no
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$0
-
80.00%
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$200,000
-
-
-
Variable
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Principal & Interest
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Owner Occupier
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Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the UHomeLoan - Discount Offer
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Promoted
loans.com.au 2.63% p.a. variable
2.65% p.a.
$1234
Product details Close detailsloans.com.au Smart Home Loan 80
Owner Occupier, Principal & Interest
2.63% p.a. variable
2.65% p.a.
A low-rate home loan that could save you thousands, with no ongoing fees plus unlimited extra repayments and free redraws. Mozo Experts Choice Low Cost Home Loan 2020.^ 20% deposit required. Limited time only.
Smart Home Loan 80
A low-rate home loan that could save you thousands, with no ongoing fees plus unlimited extra repayments and free redraws. Mozo Experts Choice Low Cost Home Loan 2020.^ 20% deposit required. Limited time only.
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2.63% p.a. variable
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2.65% p.a.
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$520
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$0.00
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$0.00
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yes - free
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yes - free
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no
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$520
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80.00%
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$50,000
-
$1,000,000
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Variable
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the Smart Home Loan 80
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Promoted
ING 2.09% p.a.
fixed 2 years3.77% p.a.
$1234
Product details Close detailsING Fixed Rate Loan Orange Advantage
Owner Occupiers with Orange Advantage, Principal & Interest
2.09% p.a.
fixed 2 years3.77% p.a.
Know exactly what your repayments will be, and you can fix your rate for up to 5 years. No monthly, annual or transaction fees and it's free to make extra repayments.
Fixed Rate Loan Orange Advantage
Know exactly what your repayments will be, and you can fix your rate for up to 5 years. No monthly, annual or transaction fees and it's free to make extra repayments.
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2.09% p.a.
fixed 2 years -
3.77% p.a.
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$299
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$0.00
-
$250.00
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yes - free up to $10,000 pa
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no
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no
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$299
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95.00%
-
$50,000
-
$2,000,000
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Fixed
-
Principal & Interest
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Owner Occupier
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Fortnightly, Monthly
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Read our Mozo Review to learn more about the Fixed Rate Loan
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Promoted
HSBC 2.65% p.a. variable
2.66% p.a.
$1234
Product details Close detailsHSBC Discounted Home Value Loan
Owner Occupier, Principal & Interest
2.65% p.a. variable
2.66% p.a.
No ongoing fees. Free extra repayments and online redraw. Mozo Experts Choice Split Home Loan 2020^
Discounted Home Value Loan
No ongoing fees. Free extra repayments and online redraw. Mozo Experts Choice Split Home Loan 2020^
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2.65% p.a. variable
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2.66% p.a.
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$150
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$0.00
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$300.00
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yes - free
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yes - free online
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no
-
$150
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80.00%
-
$50,000
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$7,500,000
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Variable
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Principal & Interest
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Owner Occupier
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Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the Discounted Home Value Loan
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Featured Product
ME2.79% p.a. variable
3.23% p.a.
$1234
Product details Close detailsMEFlexible Home Loan Member Package
Owner Occupier, LVR<80%, Principal & Interest
2.79% p.a. variable
3.23% p.a.
Pay your variable rate loan off as early as you want. No valuation fee, no top up fee, no fee to fix your rate after you settle and no fee to split your loan after you settle. Reduce your interest with a 100% offset account.
Flexible Home Loan Member Package
Pay your variable rate loan off as early as you want. No valuation fee, no top up fee, no fee to fix your rate after you settle and no fee to split your loan after you settle. Reduce your interest with a 100% offset account.
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2.79% p.a. variable
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3.23% p.a.
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$200
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$395.00 yearly
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$350.00
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yes - free
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yes - free
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yes
-
$200
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80.00%
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$700,000
-
-
-
Variable
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Principal & Interest
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Owner Occupier
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Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the Flexible Home Loan
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