fhb's attracted by low interest rates

note 60% to buy....and only 6% say the fhb grant is an incentive...
PS I note we gained and lost another multiknicker...........................

Survey finds more expecting to buy first home
Posted 4 hours 8 minutes ago

A new survey of almost 1,000 people has found close to 60 per cent of those who do not own homes expect to buy in the next 12 months.

The survey by Bankwest and the Mortgage and Finance Association of Australia says this is up from 39 per cent last November.

The association's chief executive, Phil Naylor, says the surge seems to be because of low interest rates rather than the first home owners grant.

"[That] is interesting because when we did the same survey about a year ago, people were saying the home buyers grant was an attractive point for them," he said.

"Obviously as time has gone by and even though they've had the experience of that, it's really the low interest rates that is the clincher."

Only 6.2 per cent of respondents said the first home owners grant was an incentive to buy now.

"The interest rate is the more attractive point because that's an ongoing thing," Mr Naylor said.

"It enabled you to make decisions about what sort of loan you can service and so forth and I think that's probably the driving force."

Tags: business-economics-and-finance, industry, housing, australia
http://www.abc.net.au/news/stories/2009/07/25/2636216.htm