First time buyers are increasingly investors

Many first time property buyers are investors, not owner occupiers as Aussies look for a way into the hot property market.

The majority of those surveyed by Westpac said they were confident in buying a property to rent out. They might reconsider their plans if interest rates climbed 2 percentage points or more.

First-time investors “do not appear to be overly sensitive to such increases,” said Martine Jager from RAMS.

Source: Bloomberg