PHOTO: Most first-time buyers surveyed wanted to purchase soon. Source: News Regional Media
First homebuyers are pouncing on properties even when they suspect they’re overpaying because there is one thing they fear more than spending too much, research shows.
First-time buyers are growing wary of paying too much. Picture: Darren Leigh Roberts. Source: News Corp Australia
Exhausted first-home buyers fear they’re overpaying for property in the boom market but are diving into purchases anyway, research shows.
An overwhelming 82 per cent of the property buyers polled in a quarterly survey by ME Bank said they “feel worried about paying too much for property in the current market”.
First-home buyers were the least positive about the market and the most concerned about housing affordability, while investors were the most positive.
WE DON’T ROAST OUR BEANS UNTIL WE HAVE YOUR ORDER
Despite this, first-time buyers were the most likely to be planning a purchase, with 52 per cent of respondents saying they wanted to buy in the next 12 months.
This was higher than the 40 per cent of investors with plans to buy and the 21 per cent of existing homeowners.
READ MORE VIA NEWS.COM.AU
