Investment Purchases Fill The First Home Buyer Gap

Below is a statement from the REIA, regarding the latest ABS Housing Finance Figures:

The latest Australian Bureau of Statistics (ABS) Housing Finance figures present no surprises, according to the Real Estate Institute of Australia (REIA).

“As buyers have been responding to the improved affordability brought about by cuts in official interest rates since October last year, we are seeing a slowdown in the rate of growth of finance commitments,” said REIA CEO, Mr Neil Fisher.

Total finance commitments increased by 0.5 per cent in July; the lowest growth since August 2008.

Read more

Number of First Home Buyers Dip, as Lenders Want to See Savings

Mortgage Choice, Australia’s largest independently owned mortgage broker, is not surprised by the April 2009 Australian Bureau of Statistics (ABS) housing finance figures, which show a decrease in the number of first homebuyers at the same time as activity from investors and owner occupiers increased.
However, the value of new housing loans across all categories – first homebuyers, owner occupiers and investors-fixed loans – all rose significantly. In fact, first homebuyers as a total of the value of commitments hit a record 28%, from 27.3% in March 2009.

Read more

More Than 78,000 Australians Take Up First Home Owners Boost

Tanya PlibersekNew figures show that the Rudd Government’s Nation Building Economic Stimulus Plan is continuing to support jobs in the housing sector with more than 78,000 Australians taking up the First Home Owners Boost by the end of April.

April saw the highest take-up so far of the First Home Owners Boost – 18,736.

ABS Building Approvals figures out today show the seasonally adjusted total dwelling units approved rose by 5.1 per cent in April to a level of 11,402. This is the third consecutive monthly rise.

Read more