First home buyers urged to buy now

Now is a good time for first home buyers to jump on the property ladder, according to Mortgage Choice spokesperson Kristy Sheppard who said house prices were beginning to stabilise. “At present, we’re looking at higher than average property listings with lower than average competition between buyers. But it’s a cycle. As positive sentiment grows so too will demand, which may mean now is a good time to act.

What prospective first homebuyers really need to do is explore their choices carefully – both property and mortgage wise – before leaping in too quickly.” BIS Shrapnel managing director Robert Mellor agreed “At the moment, the current housing conditions favour those that are already on the property ladder. Affordability will continue to worsen, so it is just going to get harder and harder for those that haven’t made the leap to do so,” he said.

Source: The Advisor