70% rise in intending first-home buyers

Despite growing concerns about rising interest rates and decreasing affordability, the number of first-home buyers with ownership aspirations has increased. 

Wizard?s Tomorrow?s First Home Buyers series revealed 672,000 Australians plan to purchase a property before mid-2008. This represents a 70% increase on the previous year and is the fourth consecutive quarterly increase in first-home buyer intentions. 

Wizard chairman Mark Bouris says: ?The data shows that despite the obstacles placed in the way of aspiring first-home owners, they remain undeterred. Australians are more determined than ever to own property.? 

Queensland experienced the biggest increase in first home buyer intentions - in the June quarter 07 versus the March quarter 07 - followed by Victoria, Western Australia and Tasmania.

In contrast, New South Wales / ACT remained relatively unchanged, while South Australia / Northern Territory recorded a decrease. 

• Queensland increased 91% from 89,000 to 170,000.
• Victoria increased 52% from 114,000 to 173,000.
• Western Australia increased 50% from 36,000 to 54,000.
• Tasmania increased 70% from 7,000 to 12,000.
• NSW / ACT increased marginally from 217,000 to 221,000.
• South Australia / Northern Territory fell from 59,000 to 42,000.