• Latest ABS figures show Australian first home buyers are active


    New housing finance figures by the Australian Bureau of Statistics (ABS) show first home buyers continue to steadily increase their presence in the national housing market.

    Real Estate Institute of Australia (REIA) President Malcolm Gunning said the number of first home buyers in the market increased 18 per cent in November 2017, the highest it has been since October 2012.

    “Additionally, the number of loans to first home buyers is at 11,091, the highest since December 2009 when the first home buyers boost, as part of the Government’s response to the GFC, ceased,” Mr Gunning said.

    “It is pleasing to see the increased presence of first home buyers. The figures show first home buyers are responding to more stable conditions and State Government incentives.”

    Owner-occupier market

    The number of owner-occupied finance commitments increased by 0.1 per cent in November 2017.

    “If refinancing is excluded, the number of owner-occupied finance commitments was flat following 13 consecutive months of increases,” Mr Gunning said.

    “Increases were recorded in Victoria, the Australian Capital Territory (ACT), South Australia and Queensland, with the largest increase of 1.2 per cent in the ACT. Western Australia had the largest decrease of 1.4 per cent.”

    The number of established dwellings purchase commitments increased by 0.2 percent in November 2017, while new dwelling construction decreased by 0.7 per cent and the purchase of new dwellings increased by 0.5 per cent.

    Investor market

    In contrast to the first home buyer and owner-occupier market, the value of investment housing commitments decreased by 0.3 per cent in November 2017.

    “This follows falls in the previous 10 months and is well down from its 2015 peak,” Mr Gunning said.

    View more information about the WA property market.