Newspaper article The Daily Mercury (Mackay, Australia)

Time Ripe to Enter Property Market

Newspaper article The Daily Mercury (Mackay, Australia)

Time Ripe to Enter Property Market

Article excerpt

Janessa Ekert

janessa.ekert@dailymercury.com.au

THE time is ripe for first home buyers to enter the property market.

Interest rates are historically low, while depressed property values in the Mackay region are offering great bargains for buyers.

"What I believe we're seeing is a movement from an investor-driven market to a home-ownership market, which is going to be a good long-term outcome for Mackay," Real Estate Institute of Queensland Mackay zone chairman Peter McFarlane said.

There weren't any signs the current market climate would show "any great signs of improving" over the next 12 months, he said.

"The opportunity is there now to get out of the rent cycle and move into your own home. We're starting to see the encouraging signs of young people certainly considering that move."

Interest in becoming a first home owner was on the rise, Gardian Real Estate director and sales consultant Ben Kerrisk said.

"It's a great climate. …

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