FHB Numbers Highest In Six Years

Posted on 31/01/2019  
FHB Numbers Highest In Six Years

In November, almost 10,500 first-home buyers took out a home loan, just off the highest number in almost nine years, according to CommSec’s chief economist Craig James. And as a proportion of all buyers, the share of first-home buyers is at 6-year highs.

The proportion of first-time buyers in the home loan market rose to 18.3% in November. “Clearly these buyers are celebrating the greater choice of properties on the market, more attractive prices and super-low interest rates,” says James.

Over the year to November, almost $238 billion in loans were taken up by owner-occupiers to buy property, just below the all-time high of $240 billion in the year to August.

“While investors have retreated from the market on the belief that price gains will be harder to achieve, budding home owners are still out in force,” he says.

“The number of owner-occupier home loan borrowers in Tasmania stands at 6½-year highs in trend terms with ACT borrowers at record highs, South Australian borrowers are at 18-month highs and Western Australian borrowers at 10-month highs.

“Too much focus is placed on NSW and Victoria when housing markets in many other parts of the country are doing well.”

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