Australia’s property industry is emerging as the main driver of economic growth and increased employment in the transition away from a decade-long reliance on mining.
The proportion of first home buyers, as part of the total owner-occupied housing finance commitments, increased marginally to 15.1 per cent compared to 14.9 per cent in November.
A feature of the past year has been the diversity of the Australian housing market with the median price in Sydney increasing by 22.6 per cent in the twelve months to September whilst Perth decreased by 5.0 per cent.
Buyers crave ease when searching for property and are seeking as much information as possible when considering a property purchase—a price, position and the next available viewing time.
With inflation under control and a moderating housing market, home buyers can expect a stable outlook with the possibility of a further rate interest rate cut.
