Article published 04 May 2021
The current property market spells ‘opportunity’ for first home buyers, but some expert help landing your first home loan is more important than ever.
Value buying still possible
After a long stretch of rapidly rising values, CoreLogic says the property market is seeing a slowdown in price growth1. And there are still opportunities for value buying.
Apartments a lot more affordable than houses. Across the state capitals, house values rose 8.6% in the first four months of 2021 – that’s double the pace of apartment price growth (4.3%)2. So, it’s still possible to find an affordable home in the apartment market.
This is all welcome news for first home buyers, especially as it comes at a time when there is plenty of support available to take that all-important first step into the market.
Let’s add up the benefits available.
Home loans rates below 2%
Home loan interest rates are still at historic lows – better still, the Reserve Bank has made it clear that rates are unlikely to rise before 20243. That’s very reassuring for anyone buying a home – especially first home buyers.
With rates on our lending panel starting from 1.79%* (comparison rate 3.36%)#, it’s fair to say home loan interest rates are more affordable than ever before.
Talk to your Mortgage Choice broker about the best deal on a loan that matches your needs. You could be surprised how low the rate is!