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One comparison website is anticipating that more people will take out an owner-occupied home loan in spring than any other season this year.
According to research by finder.com.au – based on data by the Australian Bureau of Statistics – a total of 163,105 owner-occupied loans are predicted to be written between September and November, compared to 162,660 in winter, and 160,738 in autumn.
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A total of 144,891 owner-occupied loans are predicted to be written in summer.
The research also revealed that spring is again expected to be the busiest period of the year for first home buyers – an ongoing trend since 2010.
According to ABS data, first home buyer loans are predicted to peak at 26,654 in spring, compared to 26,415 in winter and 24,898 in autumn.
A total of 23,168 first home buyer loans are predicted to be taken out in summer.
Finder.com.au spokesperson Michelle Hutchison has warned first home buyers to do their homework if they’re serious about entering the competitive property market, and recommends seeking a pre-approval for a home loan.
“A pre-approval can give you the upper hand when it comes to negotiating a sale or bidding on auction day,” she said.
“Being a property owner is about being prepared – auction day, and future changes to the cash rate included.”
[Related: Rate war to heat up in spring]
