This significant increase in the procurement of first time home buyer’s loan is attributable to the fact that certain concessions have been made by the State in order to help home buyers have reasonably-priced homes with as less expenses as possible.
Perth, Western Australia (PRWEB) May 30, 2012
The Mortgage Gallery Rockingham, a leading mortgage broking group in Australia, is laying out plans to aid clients in acquiring affordable and reasonable home purchases worth their investment.
In the latest Australian Bureau of Statistics reports, it was stated that first-time buyers are now becoming more active in their search for new homes. This is according to their data showing numerous states in the country having considerable increases in the acquisition of first home buyer loans over the second half of 2011.
Among all the states that had increases, New South Wales had the highest surge, having a 44.4% increase. Also, other states such as Western Australia, Victoria, Queensland and South Australia have had their share, with each having an increase of 12.6%, 9.6%, 8.5% and 5.4%, respectively.
According to experts in the industry, this significant increase in the procurement of first time home buyer’s loan is attributable to the fact that certain concessions have been made by the State in order to help home buyers have reasonably-priced homes with as less expenses as possible. An example is in New South Wales where the state government eliminated the first home buyer stamp duty, which made things more affordable to buyers.
As a result, new data for the year 2012 came in showing a continuous increase in first home loan acquisitions among different states in the country. New South Wales is still in the lead with 69.5%, while Queensland follows at 65%, Western Australia at 52.9%, South Australia at 22% and Victoria at 14.5%. Having these new numbers, many analysts are now saying that this is a good sign for the housing industry since it shows the renewed interest of buyers to make home purchases, comparing it to the past periods, where the housing market went into a slump due to rising interest rates, exorbitant house prices and unreasonable housing plans.
With these new developments at hand, many are now hoping for more affordable houses, whether they may be first time buyers or not. Analysts also stated that this will bring in numerous advantages to other sectors as well, such as the mortgage broking industry.
To cater to this increasing interest of first home buyers and in order to assist them in making their purchases, The Mortgage Gallery Rockingham has decided to provide affordable mortgage and home loans in Rockingham, Cockburn, Kwinana, Perth and other areas in the country.
The Mortgage Gallery Rockingham is known as the provider of ethical and professional services to those who are looking for help. If you want to know more about the company and its services, do not hesitate to give them a call at (08) 9527 1800 or you can visit their site at http://www.themortgagegalleryrockingham.com.au/