St.George launches brand new Property App for first home buyers

Tom Watson

24 Feb 2020

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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

  • Promoted

    loans.com.au

    1.99% p.a.variable for 12 months and then 2.57% p.a. variable

    2.55% p.a.

    $1234

    Product details Close details
    Smart Booster 1 Year Discount Variable Home Loan

    A super low introductory rate home loan with no monthly or ongoing fees. Unlimited free redraws and unlimited additional repayments to help you build your equity and own your home sooner. Multiple loan splits available. (Rates revert after introductory period ends).

    • 1.99% p.a.variable for 12 months and then 2.57% p.a. variable

    • 2.55% p.a.

    • $520

    • $0.00

    • $0.00

    • yes - free

    • yes - free

    • no

    • $520

    • 80.00%

    • $50,000

    • $1,000,000

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the Smart Booster 1 Year Discount Variable Home Loan

  • Promoted

    HSBC

    2.09% p.a.
    fixed 2 years

    2.98% p.a.

    $1234

    Product details Close details
    Fixed Rate Home Loan

    Have the security of a fixed rate for 2 years with the option to split with one of the HSBC variable Home Loans. No ongoing monthly service fees or annual fees. Mozo Experts Choice Fixed Home Loan 2020^

    • 2.09% p.a.
      fixed 2 years

    • 2.98% p.a.

    • $0

    • $0.00

    • $300.00

    • yes - free up to $10,000 p.a.

    • no

    • no

    • $0

    • 80.00%

    • $50,000

    • $7,500,000

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the Fixed Rate Home Loan

  • Promoted

    UBank

    2.14% p.a.
    fixed 1 year

    3.01% p.a.

    $1234

    Product details Close details
    UHomeLoan

    $0 fees and easy application with the Mozo Experts Choice Home Lender Bank of the Year.^ Choose between weekly, fortnightly or monthly repayments. 3 year fixed rates are for new Owner Occupier Principal & Interest loans.

    • 2.14% p.a.
      fixed 1 year

    • 3.01% p.a.

    • $395

    • $0.00

    • $0.00

    • yes - free up to $20,000 p.a.

    • no

    • no

    • $395

    • 80.00%

    • $100,000

    • $2,000,000

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the UHomeLoan

  • Promoted

    ING

    2.59% p.a. variable

    2.62% p.a.

    $1234

    Product details Close details
    Mortgage Simplifier

    Enjoy no ongoing monthly or annual account-keeping fees. Unlimited additional repayments. Redraw facility available. If you choose to round up your Orange Everyday, every card purchase will help to directly reduce your outstanding home loan balance.

    • 2.59% p.a. variable

    • 2.62% p.a.

    • $299

    • $0.00

    • $250.00

    • yes - free

    • yes

    • no

    • $299

    • 80.00%

    • $150,000

    • $999,999

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Fortnightly, Monthly

    Read our Mozo Review to learn more about the Mortgage Simplifier

  • Promoted

    Suncorp

    2.29% p.a.
    fixed 2 years

    3.32% p.a.

    $1234

    Product details Close details
    Fixed Home Loan Special Offer Home Package Plus

    No monthly account keeping fees & No loan establishment fee. Get a $2,000 cash bonus when you refinance with an eligible Suncorp Bank Home Loan of $250k+. T&Cs & eligibility criteria apply.

    • 2.29% p.a.
      fixed 2 years

    • 3.32% p.a.

    • $0

    • $375.00 yearly

    • $350.00

    • yes - free up to $500 per month

    • no

    • no

    • $0

    • 90.00%

    • $150,000

    • -

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    • Refinance from another lender to receive a $2,000 cash bonus for loans of at least $250,000 or $3,000 bonus for loans over $750,000. Available for loans with an LVR <90% and applications made by 30 September 2020 and settled by 29 December 2020.

    Read our Mozo Review to learn more about the Fixed Home Loan Special Offer

*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 the amount and term you entered.

**Initial monthly repayment figures are estimates only, based on the advertised rate, and a loan of $500,000 repaid over 25 years. 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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