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The peak of first home buyer activity has now passed, according to AFG, who has recorded its second consecutive decline in first home buyer sales, but investor activity is on the rise.
The proportion of first home buyers as a total of AFG’s monthly mortgage deals fell to 24.8 per cent in May, the aggregator said today, compared to its peak of 28.1 per cent in March.
While first home buyer activity remains above trend, AFG said the figures suggested the boom was over.
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Investor activity, in contrast, is heating up, increasing over the past two consecutive months from an all time low of 24.5 per cent in March to 28 per cent in May.
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