About 48 percent of home seekers in Australia are still set to buy a first home according to a new first time buyer survey by RAMS Home Loans.

The survey featured 300 Australians aged between 20 and 49 thinking about buying a first home in the next 12 months.

The data indicated that for many first time buyers, particularly younger Australians, property ownership was still very important and something they aren’t prepared to give up on.

RAMS Chief Executive Officer, Melos Sulicich, said “We see many first time buyers that make very careful decisions about whether to buy property and others who consider it life achievement but all tend to be quite determined.

“We are often told by first time buyers how important their purchase is to them. As a result, buyers are savvier, better prepared and making more considered decisions than ever before.

First timers are often well informed after consulting a mix of family, friends and professionals. As an experienced lender to first time buyers it’s our job to keep up with them.” Mr Sulicich added.