State of the Market – Buyers Point of View

A recent survey conducted by has revealed an interesting snapshot of the current state of the market from a buyers perspective. Drawing information from more than 8,000 property seekers, results indicate demand from first home buyers is increasing and Australian’s are still striving for the great Australian home.

A snapshot of the real estate market from a buyer's point of view.

Key Findings

First Home Buyers are Flocking Back

First home buyers represented 29.4% of the property seeker market, making them the largest segment currently seeking property. This is a promising sign for the property market, as first home buyers have shown reluctance to buy in recent years. Encouraged, it seems, by the record low interest rates, nearly half of these first home buyers have only entered the market within the last three months.

The great Australian Dream is still in vogue

As the Australian population continues to grow and our cities become increasingly crowded, housing is becoming smaller and high rise living is becoming more prevalent. Despite this, however, it seems Australians still aspire for the Great Australian Dream with 66.9% looking to buy a house and less than 9% looking to buy an apartment.

Will the budget stretch far enough?

While the survey showed a strong preference towards purchasing a home, most were interested in properties selling for less than $400,000. Considering the median house price in Australian capital cities is above $400,000,property seekers may need to adjust their expectations or start looking at townhouses and apartments. View’s current state of the market infographic below;

About Port Douglas

Port Douglas real estate - Real estate in Port Douglas is now sought after the world over. Our passion for where we live stems from Port Douglas being the only place in the world where two natural, world heritage listed sites (the Great Barrier Reef & Daintree Rainforest) exist side by side. If you would like buy or live in your own piece of paradise, please browse our real estate listings The views expressed in the Port Douglas blogs are not those of Century 21 Port Douglas Real Estate nor the Century 21 franchise.
This entry was posted in Australia, Australian Home Buyers, Australian Homes, Banks, Buyer's need to pay attention To Details, Century 21, Century 21 Port Douglas, Far North Queensland, Housing Affordability, Housing Data, Interest Rates, Interest Rates Australia, Port Douglas, Property, Property Port Douglas, Property Tips, Uncategorized and tagged , , , , , , . Bookmark the permalink.

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