|
Introduction
- Mortgage Products for Australian First Time Buyers 2005 is Datamonitors
latest report on the Australian mortgage market. It examines the
marginalization of first time buyers, what lenders are doing to target first
time buyers and what more can be done. In doing the latter the report
considers strategies from overseas and presents their applicability to the
Australian market.
Scope of this report
- Covers products for first time buyers in Australia with comparison to
products in the UK
- Includes an estimate of lending commitments to first time buyers to 2008
- Based on in-depth interviews with mortgage executives
Research and analysis highlights
- In the second half of 2004 first time buyers share of the mortgage market
increased driven by stamp duty concessions, slowing property price increases
and consequently relaxed affordability constraints. In October 2004, the
latest month for which data is available, first time buyers accounted for
16.0 per cent of loans advanced.
- Slowing property prices will inevitably bring first time buyers back into
the property market as affordability constraints relax. This is not to say,
however, that lenders cannot play a role in facilitating, and consequently
speeding, their return.
- Datamonitor believes that providers of shared equity products will have to
work hard to build consumer confidence in the notion of sharing equity.
Equity sharing is a new concept in Australia and many consumers will be
uncomfortable with the notion of handing the lender up to 50 per cent of
their equity gain.
Key reasons to read this report
- Examine the current provision for first time buyers in the Australian
mortgage market
- Learn from innovators in the first time buyer segment
- Gain Datamonitors forecast of lending commitments to first time buyers to
2008
| 
View Cart
