The Truth about House Hunters
Did you know that your name may be an influencing factor for investing in property? Recent Aussie insights – obtained from the data of more than 5500 home loan applicants – indicated that Michael and Michelle were the most likely of names to take out a home loan.
But what about other determining factors such as business profession or the state that people live in – would they influence the likelihood of investing in a home loan?
Amongst the ranking for the most popular name, data revealed which types of workers were buying property, which states were the most popular for home loan applicants and what methods of search were used in order to find home loan options.
The average age for a home loan investor was 42.7 years, opting for property hot spots amongst the East Coast states. Victoria was the highest contender for property buying, taking 35% of the surveyed house hunter market, followed by New South Wales at 27.5% and Queensland at 19.19%.
Those who were more likely to take out a home loan were working professionals (18.13%), followed by managers (16.13%) and associate professionals (15.10%). Between 2-10% of home loan applicants were made up of tradies, home duties employees, production and transport workers, service workers, and laborers.
House hunters were shown to be relying on less-mobile forms of technology, such as desktops, to conduct their property search, with 74.7% of home loan applicants using a PC to conduct their house hunting, followed by an Apple Mac at 9.7%.
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