05 March 2013 Buyers return to property market

Australians borrowed $200 billion to buy residential property last year.

That's just 7 per cent (or $15 billion) less than the 2007/08 market peak.

The three main buyer types are owner residents buying for the second or subsequent time, investors and first-time buyers.

Owner-residents were the largest buyer segment last year at 44 per cent; followed by investors at 42 per cent; and first-timers at just 14 per cent of the market.

All up, just under one million homes were traded.

Investing in property has always been on the radar for many Australians as a way to gain wealth and financial security.

And throughout 2012, Aussie investors were in hot pursuit of those goals, borrowing $84 billion to purchase around 425,000 properties.

A recent survey has found that the majority of Australian residential property investors are in their 20s, 30s, and 40s.

For the most part, they are married professionals who own around two properties and live in the same geographic region as their investment properties.

Reproduced in part with permission: News Limited Network Buyers return to property market 5 March 2013

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