Home and dry in first house hunt

THERE were tears of joy all around when Cassandra Palmer and Daniel Hogan received the news they were successful in buying their first home.

The couple bought in Hobart’s Risdon Vale from a seller who was keen to pass along the property to a first-time buyer rather than an investor.

Ms Palmer, 27, said they were the first people through the door at the open home and they knew instantly it was right for them.

“It felt homely, like a place where we could grow. We had not had that feeling in any other houses that we looked at,” she said.

In data from the Real Estate Institute of Tasmania and realestate.com.au, firsthome buyers have been increasingly active in the Hobart property market.

Fall Real Estate agent Jason Andrikonis has been on a run, selling seven of eight homes to first-home buyers such as Ms Palmer and Mr Hogan.

He said helping young Tasmanians to get a foot in the door was always a special moment.

“Selling so many homes to FHB, that’s simply not the norm,” he said.

“But it is always nice to see the excitement on their face when you deliver the good news.”

Mr Andrikonis has seen strong demand from firsthome buyers in a variety of areas such as Dodges Ferry, Claremont and Risdon Vale.

“Our recent open homes in these areas have seen 100plus people turning up to inspect a property,” he said.

Mr Hogan, 29, said buying during COVID-19 had played to their advantage as there were less active investors in the market.

“That said, investors were easily spotted at open homes,” he said.

“We were outbid and missed out on a few properties along the way but you have to lose to learn.”

Compared year-on-year, realestate.com.au data shows inquiry from Hobart firsthome buyers on the site has grown by 61 per cent.

In that time, first-home buyer inquiry increased by 57 per cent for houses, 53 per cent for land and 68 per cent for unit listings.

The data revealed Kingston was the No.1 destination followed by Howrah, West Moonah, Claremont and Old Beach.

The latest REIT September quarter figures showed the number of first-home buyer sales increased by 48.4 per cent over the past quarter.

They bought 20.5 per cent of all land sales in those three months, up from 13.6 per cent at the same time in 2019.

First-home buyers accounted for 17.8 per cent of unit sales, up from 13.6 per cent annually, and 16.3 per cent of house sales up from 13.5 per cent.