Aussie first time buyers say “Overseas investors? No worries.”

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New research from RAMS shows those in the market for a new home aren’t overly concerned about investors home or abroad.

In a competitive and diverse market it makes sense to do your homework. Attending auctions and talking to others buyers can be really helpful and dispel fear and market myths.

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Despite talk of overseas investment into the Australian property market, local buyers appear unconcerned. Only 14% of home seekers and 6% of recent first time buyers believe overseas investors are driving up property prices or are a competitor for their first home, according to a new first time buyer survey released today by RAMS Home Loans.

The survey features 600 Australians aged 20 and 49 either intending to buy a first home in the next 12 months, or had purchased their first home in the previous 12 months.

When questioned on perceived market competition, local investors were cited as a competitor when looking for their first home by only 21% of all respondents, with buyers ranking competition from local investors almost equal to that of overseas investors.

RAMS Chief Executive Officer, Melos Sulicich, said the data indicates that despite perceptions of overseas investors affecting house prices, buyers are making judgments based on their own personal experiences.

“In a competitive and diverse market it makes sense to do your homework. Attending auctions and talking to others buyers can be really helpful and dispel fear and market myths,” said Mr. Sulicich.

The survey identified other first time home buyers (43% of home seekers and 38% recent buyers) and home owners looking to change home (28% of home seekers and 21% recent buyers) as first time buyers main concerns.

“The results provide a simple and real world insight. As a local and community-based home loan lender knowing what real Australian home seekers are thinking is valuable to us,” added Mr. Sulicich.

About the RAMS First Home Buyers’ Pulse Check

More than 600 Australians aged between 20 and 49 who were either intending to buy a first home in the next 12 months (303 respondents) or had purchased their first home in the previous 12 months (300 respondents) participated in the survey. The survey was conducted in August 2011. Pulse Checks have also been carried out in February 2009 and August 2010 to monitor trends and perceptions amongst first homebuyers.

The RAMS First Home Buyers’ Pulse Check provides an overview of attitudes and behaviors of the typical first home seeker and the typical first home owner. The study was conducted by independent market research and consumer insights firm, Nature Pty Ltd.

About RAMS Home Loans

RAMS Home Loans is an innovative, flexible, home loan lender specialising in helping Australians to own their own homes. Tens of thousands of Australians have turned to RAMS Home Loans for straightforward, flexible home loans offering good value for money. Expert advice, community based and community focused. http://www.rams.com.au http://twitter.com/ramshomeloans

For further information please contact:
RAMS Media Relations Nigel Lopez-McBean: nigel_lopez-mcbean(at)rams(dot)com(dot)au 02 8218 6359 or 0429 721 804

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Nigel Lopez-McBean

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