Mortgage Choice has surveyed First Homebuyers to get an understanding of what rate rises might mean for them and the property industry at large.
An increase of just two percentage points puts more than a quarter of Australians looking at their first home out of the race. However it should be noted with a rate rise and the fleeing of potential buyers will put downward pressure on property prices negating some of the downside risk.
The survey by Mortgage Choice shows that the majority of First homebuyers are buying to secure their longtime financial security, and with the instability of the share market of recent times it’s no wonder Australian’s back the property sector. Read the full story