Data has been published recently regarding new first-time home buyers, indicting the parts of Melbourne most desirable to them to purchase properties. The detailed report showed that the number of mortgages for homes based in Richmond had seen an increase of 163%, while loans for properties in Croydon had risen by 115%.
Mount Waverley has experienced a massive spike of 180%, while Glen Waverley, St Albans, Glenroy and Wollert have also proved popular with first-time buyers in Melbourne. Market analysts and enterprises in the property sector can sometimes use professional printing services to create portfolios to present the research projects they undertake, reporting their data and insights.
Andy Kerr, AB Executive for Home Ownership, commented recently on Melbourne’s current property market activity:
“Melbourne trailed all other cities in first-home buyer activity last year due largely to COVID-19 impacts and we have seen an element of catch-up this year.”
Kerr added, however, that the combination of government incentive schemes and low interest rates had helped give first time buyers a “leg up”.
While loans issued by the government are helping many new home buyers purchase properties, statistics show that many are receiving assistance from their families. On July 1, another 10,000 government-backed loans were made available.