More grim news for first home buyers

More grim news for first home buyers

12 June 2014 by Staff Reporter 0 comments

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.

promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2016

With a combined sales volume of $13 billion in 2016, the Top 100 Agents ranking represents the very best sales agents in Australia. Find out what sets them apart and learn their secrets to success.

featured podcast

featured podcast
William Phillips on how agents can expand their database and grow their business

Get up close and personal with the best real estate sales agents in Australia in Secrets of the Top 100 Agents. ...

View all podcasts

Are dodgy agents being punished enough?

Yes (8.6%)
No (55%)
Only in some states (2.3%)
Not all dodgy agents are being found out (34.1%)

Total votes: 220
The voting for this poll has ended on: April 15, 2017
upcoming events
REB Awards
Sydney The Event Centre 12 Sep
REB Awards
Sydney The Event Centre 12 Sep
Melbourne The Event Centre 14 Oct
Brisbane The Event Centre 18 Dec
View all events
Do you have an industry update?