The government’s first home buyer boost is looking increasingly promising for brokers’ businesses, with Mortgage Choice yesterday reporting a surge in first home buyer enquiries.
Mortgage Choice’s online enquiry forms completed by first home buyers jumped by 577 per cent over the past week following the government boost to first home owner grants announced last Tuesday.
Kristy Sheppard, Mortgage Choice’s senior corporate affairs manager, said the heightened level of interest highlighted the positive impact the initiatives had made on consumers.
“Given the current housing affordability challenge we are happy to see a steep rise in first home buyer enquiry levels...as they dig deep to find information about buying their first home,” she said.
Ms Sheppard said the scheme could see first home buyer activity pick up substantially.
“ABS statistics reveal that first home buyer loan approvals have remained relatively steady at 18.6 per cent of all approvals over July and August this year. We believe this figure could rise solidly in the coming months.”
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