Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

First home buyers are back

Staff Reporter 1 minute read

Lower interest rates and government incentives have seen first home buyers return to the market, data for November shows.

According to the ABS the percentage of home loans taken out by first home buyers rose to a seven year high of 23.6 per cent in November – a substantial increase from the 19.5 per cent recorded in October.

The data also showed that first home buyers are especially eager to benefit from the government’s larger $21,000 grant for new homes; the number of loan commitments for new dwellings rose 9.8 per cent.

Overall the number of owner occupied loans taken out in November also continued to inch up, rising 1.3 per cent, seasonally adjusted, to 49,192.

Pressure is now on for the government to continue the first home owner incentives past the proposed cut-off date of 30 June.

Phil Naylor, CEO of the MFAA, said; “first time buyers are vital to the health of the housing market so the continuation of incentives to encourage them should be carefully considered”.

COMMENT HERE

 

First home buyers are back
default
TheAdviser logo
default

 

more from the adviser
ASIC TA ASIC to update ACL process following security breach

The financial services regulator is working on “alternative arr...

money au ta Lenders extend cashback offers

Several lenders and their subsidiaries have extended their cashba...

ren wong N1 pivots to become SME lender

Diversified broking and non-bank lending group N1 Holdings has an...

FROM THE WEB