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.
