First Home Buyers Survey 2010



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A sample of the information from the 2010 First Home Buyers Survey released in March 2010

If interest rates rise by 2%, 71% of Australians looking to buy their first home in the next two years will still make the purchase, according to results from a recent First Homebuyers Survey. The full breakdown was shown as:

  • If rates rise by 0.25% 98% would still buy
  • If rates rise by 0.25% to 1.00% 95% would still buy
  • If rates rise by 1.00% to 2.00% 79% would still buy
  • If rates rise by 2.00% to 3.00% 71% would still buy

The 2009 First Homebuyers Survey showed that 71% were planning to make lifestyle sacrifices in order to purchase.
This has now changed, in the 2010 survey, to 78%.

The breakdown of expected mortage sizes for First Home Buyers from the survey:

  • 26% expected to borrow between $200,001 and $300,000
  • 33% expected to borrow between $300,001 and $400,000
  • 15% expected to borrow between $400,001 and $500,000
  • 6% expected to borrow between $500,001 and $600,000
  • 4% expected to borrow over $600,000
  • 13% were unsure.

More details at: http://www.mortgagechoice.com.au/about-us/media-releases/survey-first-homebuyers-may-be-scared-off-by-small-rate-rises.aspx


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