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Property Market sees Influx of Young, Savvy Buyers

While the end of the first-home buyer

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Property Market sees Influx of Young, Savvy Buyers

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  1. Propertymarketseesinfluxofyoung,savvybuyers While the endofthefirst-home buyer’s grantwas expectedtodampenthemarket’s appetite for new property,ithasinfactcreated arangeofnewandcreative buying trendsamongstyoungerAustralians. GoldCoast,QLD,May 08,2014 -Whiletheendof thefirst-homebuyer’s grant wasexpected todampen themarket’sappetitefornew property,it hasinfactcreatedarangeofnewand creativebuying trendsamongst youngerAustralians. Thesetrendsinclude‘propertyshares’and‘guarantor’ssupport’,howeverthemost widelyused strategyhasbecomeborrowing tobuyafirst propertyandremaining asaninvestorratherthan anowner-occupier. MembersAlliance CEODavidDomingosaysthesecreative strategieshavemadeit possibleformorefirst-homebuyers toenterthepropertymarketthaneverbefore. “First-homebuyersarenowresearching tofindhighgrowthsuburbsand opting tobuyrentalapartmentsorhouseswhileliving athomeorrentingadifferentproperty,”saysMrDomingo. “Trendsareshowing thepreferred choiceisnewhousing stocksuchasdetached housesorinner- cityapartmentswithaffordabilityasamajorfactor. “The simplefactisthatGenY arepreparingnowfor when theyeventuallymoveout ofhome,and it’screating pent up demandforaffordable,low-maintenancedwellingsthatfit thisnewcriteria.” Thelatest datafrom theAustralianBureauofStatistics(ABS) confirmsfirst-homeloansasaproportionofall owner-occupierfinancecommitmentsareatarecord low. MrDomingosaysanRP Datareport ofsales throughout 2013show39.4percent ofcapital cityunit salesand 27.1percent ofcapital cityhousesaleswerebelow$400,000–showing affordable opportunitiesforfirst-homebuyersarestill out there. “Therewasunprecedented hypearound GenY unabletoenterthepropertymarket when thefirst-homebuyersgrant forestablishedhomesended,but thathassincedied down withreportsofyoung buyersnow preferring toenterthepropertymarketasinvestors,”saysMrDomingo. “2014first-homebuyeractivityisgrowingwith peopleaged between25-35 whoarenow thinkingcreativelyintermsofhow theywill enterthepropertymarket and buytheirfirst property. “It’samatterof thebuyeradapting totheever-changing market and finding awayinthat willbenefitthemfinanciallyinthelong run,ratherthanbuying ahometo liveinpurely based on emotion.” MembersAllianceisa privatelyownedfinancial conglomerate,specialising infinancialplanningand financialservices,providing clientswith provenstrategiesand techniquestoensureafinanciallysecurefuture. Formoreinformationvisit www.membersalliance.com.au.For all mediarequirementscontact BruceNelsonon0423403449.

  2. Contact: BruceNelson ZakazukhaMarketingCommunications 3EdenCourt Nerang, Queensland 4220 +61755966634 bruce@zakazukha.comhttp://www.zakazukha.com ###

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