first home buyers lured by 3% deposit

In this market offering 3% deposit what a disgrace, property dropping 10%+ would benefit FHB more, not pushing FHB in at the the high prices again with barely a deposit..


First home buyers lured by three per cent deposit:


The State Government has backed a range of new housing initiatives in an effort to attract reluctant buyers back into the market.

Among the initiatives is a Bankwest home loan offer which allows first home buyers to purchase a property with as little as a three per cent deposit.

The Housing Minister Troy Buswell says it is up to the bank to make sure it lends responsibly.

"It's really helping people make an investment, ie get that deposit quicker than they otherwise would," he said.

"Let's not forget; one of the biggest challenges for young people, in particular, is getting over the hurdle that is the deposit."


http://au.finance.yahoo.com/news/First-home-buyers-lured-three-abc-2938577347.html?x=0