Spike in first home-buyer mortgage enquiries
Government concessions and falling property prices have sparked a “huge spike” in interest from first home buyers, as measured by hits on the website of independent mortgage broker Loan Market Group.
Website traffic from first home buyers in the first three weeks of October surpassed hits in the same periods last year by 5,700 per cent, according to chief executive Jennifer Nielsen.
She added that direct enquires from first home buyers to brokers had also risen by almost 300 per cent in the period compared to last year.
“There was very little interest from first home buyers during September, but now brokers and property related websites, including our own, are being flooded with interest from these sources.
“The Federal Government’s move to double the first home buyers grant has clearly had a dramatic impact and it comes with a downward move in interest rates,” she said.
Recommended for you
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With wealth management M&A appetite only growing stronger, Business Health has outlined the major considerations for buyers and sellers to prevent unintended misalignment between the parties.
Industry body SIAA has said the falling number of financial advisers in Australia is a key issue impacting the attractiveness and investor participation of both public and private markets.
