Confusion in the property market has today been highlighted with 30% of Australians admitting they are scared that house prices will rise, whilst 23.4% fear them falling[1]. And a frightening one in three Aussies are scared they won’t be able to make repayments on their homes, according to the latest survey by home loan comparison website HomeLoanFinder.com.au. Australians are being urged to fight the fear by arming themselves with a deeper knowledge of the market and comparing home loans to ensure they find the best deal for them.

In an answer to the exponential growth in people using their smart phones and apps to their property market research, as well as alleviating confusion in the market for consumers, HomeLoanFinder.com.au has launched the Finder.com.au App, the first ever mobile app in Australia to provide consumers with real time home loan comparison, interest rates, tips and calculators to help people find the best home loan that suits their needs.

The survey conducted by HomeLoanFinder.com.au of over 2,000 people also revealed that 30% of Australians said they wouldn’t compare home loans, when taking the leap to buy a property.

Jeremy Cabral, Publisher of HomeLoanFinder.com.au says, “Aussies are unaware of the opportunities they miss out on by not comparing the various offers on the market. It is costing them more by not shopping around to get the best deal. By providing live home loan information through the app, savvy consumers can compare loans from different lenders and save themselves tens of thousands of dollars in the process.”

Of those surveyed, 47% of respondents had downloaded a banking app, and 52.2% said they plan to download a banking app in the next 12 months. And 35.2% use a mobile app to search for rental property, or to purchase properties, with 74.1% carrying out property searches on their smart phones.

“Clearly there is growth in the area of app development for banking purposes and consumers are becoming more aware of the most immediate ways they can access financial information that can benefit their back pocket. 39.2% of people say they are only moderately satisfied with their current banking app. The Finder App will seek to increase consumer satisfaction in this regard,” continues Mr Cabral.

The Finder.com.au app is available free from the App Store on iPhone.

Finder.com.au is a free financial comparison website group which aims to help consumers make informed choices.
[1] According to a survey of 2,298 Australian consumers by HomeLoanFinder.com.au, September 2012