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Investors Starting to Return
Thursday 30th July 2009Mortgage brokers say investors have overtaken first-home buyers as the most active sector of the property market, as applications for the First Home Owner Grant wind down.
Prime Minister Kevin Rudd says more than 110,000 first home grants have been handed out since October last year.
"People who were serious about getting the grant made sure they bought well ahead of June 30, when it was originally scheduled to expire," Lisa Montgomery, of Resi Home Loans, says.
"Now it's investors dominating business. Many of them are disillusioned with the stock market and trust only property to provide stable returns."
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Based on information provided by and with the permission of the Western Australian Land Information Authority (2012) trading as Landgate.