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First Home Buyers Commitments Increase in WA

By Kevin Kelly

Recent data shows finance for first home buyers increasing, reaching 15.6 per cent of owner-occupied housing finance commitments for November 2010.

In an eight month high, 8,435 dwellings were purchased with the assistance of housing finance by borrowers.

This is the third consecutive month Australia’s housing finance commitments rose, and the number of first home buyer dwellings financed rose by 14.7 per cent.

New data for December is anxiously being awaited, due to the number of weeks that are taken for a home loan application to reach the unconditional loan approval stage, many believing December’s housing finance data will provide a better picture of where new property buyers stand.

With housing price growth having slowed alongside our continued strong population growth and healthy employment situation, there are plenty of opportunities for buyers who do their research, are confident of their finances and can withstand possible future interest rates rises.

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