- November 19, 2012
- Posted by: Rogers Property Group
- Category: Latest News
Australian Bureau of Statistics housing finance data tells us there has been a 14.3% jump in the number of first-time buyer loans in the September quarter of 2012 when in comparison to September quarter of 2011. FHBs now make up 19.3% of all owner-occupier housing loan written, which is a touch more than the average of 18.5% over the last ten years.
What is interesting is that WA leads the proportion of FHBs in comparison total owner occupied loans. This flies in the face of the belief that house prices determine the level of FHBs in the market. What has had a greater effect is the state of the market and the incentives offered.
Although FHBs are buying to live in the property they tend to enter the market if they believe the market will rise. This is a good way for them to get started in property investment.