Newspaper article The Observer (Gladstone, Australia)

First-Home Buyers Jump on Low Interest Rates

Newspaper article The Observer (Gladstone, Australia)

First-Home Buyers Jump on Low Interest Rates

Article excerpt

THE low interest rate environment and more affordably-priced properties are continuing to attract Queensland first-home buyers into the property market, according to the Real Estate Institute of Queensland (REIQ).

The latest Australian Bureau of Statistics data found that more than 1650 properties were financed for Queensland first-home buyers in June a an increase of 30 per cent on June last year.

And over the June quarter, according to the Office of State Revenue, more than 5400 First Home Owner Grants were paid in Queensland compared to 4000 in the same period in 2011.

REIQ CEO Anton Kardash said affordability had long been the name of the game for first-home buyers.

a[approximately]a[approximately]Lower interest rates and low property prices equals more first-home buyers who can now afford to purchase a home,'' he said.

a[approximately]a[approximately]Housing affordability is the best it has been in a number of years in Queensland and this is just the spark that first-time buyers had been waiting for. …

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