More grim news for first home buyers

More grim news for first home buyers

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First home buyer numbers have taken a big fall in the past year, according to the Australian Bureau of Statistics.

New buyers represented 12.3 per cent of owner-occupied finance commitments in April 2014 – down from 14.3 per cent in April 2013 and 12.6 per cent in March 2014.

The average loan size for first home buyers was $300,900, which marked a four per cent increase on the year before but a 0.6 per cent decline on the previous month.

There were also 52,109 dwelling commitments for owner-occupied housing, with 83 per cent being for the purchase of established dwellings, 12 per cent for the construction of new dwellings and five per cent for the purchase of new dwellings.

The Australian Bureau of Statistics also reported $27.9 billion of finance commitments for May – up 22.6 per cent annually and 1.7 per cent monthly.

The owner-occupied share of those commitments was $16.9 billion, which marked a 15.8 per cent annual increase and 1.4 per cent monthly increase.

Finance commitments for investors reached $11 billion, which was a 34.9 per cent jump on the year before and a 2.3 per cent rise on the previous month.

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