For immediate release
3 June 2011
Buyer activity on the rise: Your Mortgage Index
Despite predictions of a flat or even falling market, first home buyer interest continues to account for approximately half of all home loan enquiries on independent mortgage comparison website Yourmortgage.com.au. While there was a slight drop in average loan size compared to the previous month, the proportion of enquiries from first home buyers increased by just over 1 per cent, according to the May 2011 Your Mortgage Index.
There are also indications home buyer activity may be on the rise with 84 per cent of home loan enquiries specifying an intention to purchase property within the next few months, a 7 per cent proportionate increase on April enquiries.
Commenting on the results, editor of Your Investment Property magazine Nila Sweeney said this was a positive sign for the property industry.
“This is an important leading indicator of home buying trends,” Sweeney said. “The Your Mortgage Index shows people’s intentions even before they apply for a mortgage.”
NSW continues to account for one-third of home loan enquiries to the website, with May results showing a 2-3 per cent decrease in the proportion of enquiries from users based in Queensland and Western Australia compared to the previous month.
The Your Mortgage Index is compiled monthly from information gathered from Yourmortgage.com.au user activity. For the full report please contact Lisa Narroway on 02 8437 4700 or email [email protected].
Launched in 1995, Yourmortgage.com.au provides daily updated interest rate information to Australian home and investment borrowers to assist them in finding the loan that suits their needs. Attracting 150,000 visits per month, Yourmortgage.com.au is a one-stop resource for home buyers and property investors seeking the latest property news, free reports, price comparisons and loan calculators. Yourmortgage.com.au features more than 1,400 Australian home and investment loan products from over 80 lending institutions. In addition, users can access exclusive video interviews with industry leaders on Your Mortgage TV, and join the latest discussion on the Your Mortgage forum.