First Home Buyers Reach Record Low

March 24th,2014

The Real Estate Institute of Australia (REIA) says the latest housing finance figures released by the Australian Bureau of Statistics (ABS) show that the number of first home buyers is at a record low despite total lending for housing growing steadily in response to interest rate cuts and the positive housing outlook for much of the country.

Housing finance figures for November 2013 show, in trend terms, that the number of owner-occupied finance commitments rose by 0.6 per cent, following increases of 0.8 per cent in October and September. This is the lowest monthly increase, in trend terms, since January 2013.