First home buyers take wait and see approach
New findings from the national RAMS First Home Buyers’ Pulse Check survey reveals almost 3 in 4 first home buyers believe now is a good time to purchase, but only 17% are seeking to buy within the next 3 months. This suggests people may be taking a ‘wait and see’ approach before they buy.
Two thirds are optimistic they will purchase their first home within 12 months with affordability the key trigger when making a purchasing decision – nearly three times higher than interest rates alone (66.8% vs 27.4%).
RAMS Chief Executive, Melos Sulicich said first home buyers are making more informed choices, taking time to research the market and not rushing in like previous years.