Aussie first home buyers say
"Overseas investors? No worries."
MEDIA RELEASE
26 September 2011
New research from RAMS shows those in the market for a new home aren't overly concerned about investors home or abroad
Despite talk of overseas investment into the Australian property market, local buyers appear unconcerned. Only 14% of home seekers and 6% of recent first time buyers believe overseas investors are driving up property prices or are a competitor for their first home, according to a new first time buyer survey released today by RAMS Home Loans.
The survey features 600 Australians aged 20 and 49 either intending to buy a first home in the next 12 months, or had purchased their first home in the previous 12 months.
When questioned on perceived market competition, local investors were cited as a competitor when looking for their first home by only 21% of all respondents, with buyers ranking competition from local property investors almost equal to that of overseas investors.
RAMS Chief Executive Officer, Melos Sulicich, said the data indicates that despite perceptions of overseas investors affecting house prices, buyers are making judgments based on their own personal experiences.
"In a competitive and diverse market it makes sense to do your homework. Attending auctions and talking to others buyers can be really helpful and dispel fear and market myths."
The survey identified other first home home buyers (43% of home seekers and 38% recent buyers) and home owners looking to change home (28% of home seekers and 21% recent buyers) as first time buyers main concerns.
"The results provide a simple and real world insight. As a local and community-based home loan lender knowing what real Australian home seekers are thinking is valuable to us." added Mr Sulicich.
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For further information, please contact: RAMS Media Relations, Nigel Lopez-Mcbean on (02) 8218 6359, 0429 721 804