There is a growing angst among would-be homebuyers over their job security, a new survey has found.
Home loan provider Mortgage Choice's annual survey of first-time homebuyers found that about one in five (18 per cent) of people looking to buy a home in the next two years put retaining employment as their biggest concern, compared with 11 per cent a year earlier.
Such worries come as the jobless rate stands at its highest level in two-and-a-half years at 5.4 per cent.
However, fewer buyers are concerned about rising house prices - 22 per cent this year compared with 31 per cent in 2011 - while just 8 per cent are worried about interest rates impacting on their ability to buy a home compared with 14 per cent 12 months earlier.
"While many of the economic indicators such as rate cuts, lower house prices and improved affordability might suggest now is a good time to buy, people are still nervous about their ability to sustain employment," Mortgage Choice spokesperson Belinda Williamson said releasing the survey results on Wednesday.
More than half (57 per cent) of the 1000 respondents surveyed saw getting a foot in the property market as setting themselves up financially for the future, while 49 per cent also wanted a home where they can raise a family.
The third-largest motivation for owning a property (42 per cent) was to avoid rising rents.
The survey also found people are leaving it later in life to buy their first home with those aged 30 or more increasing to 61 per cent from 54 per cent in 2011.
First-time homebuyers intend to save longer for a home, at an average of two years compared with 1.8 years 12 months earlier.
"It is interesting to see more first homebuyers are saving for longer and purchasing later in life, perhaps when they are in a better financial position, have researched their ideal location well and are keen to settle into a property they will call home for many years to come," Ms Williamson said.