• intouch Magazine

First Home Buyer Loans Reach Decade High


“December 2019 saw the volume of First Home Buyer home loans surge to their highest level since late 2009 according to ABS data out last month,” Master Builders Chief Economist Shane Garrett said. During December, the volume of home loans to First Home Buyers increased by 6.2% in seasonally-adjusted terms to record a monthly total of 9,606. The last time a higher monthly total was recorded was exactly ten years ago back in December 2009.

“The good news is that First Home Buyer activity has stepped up even further since the start of this year. The new First Home Loan Deposit Scheme is already a big success and the official data will show more big gains for First Home Buyer once they are released,” said Garrett.

“Apart from First Home Buyers, these figures show that other areas of the housing market are also recovering well. Housing investor loans expanded for the third consecutive month and hit a 14-month high during December,” he said.

“There is a great opportunity for people to buy or build their first home at the moment. Apart from the assistance offered by the new First Home Loan Deposit Scheme, interest rates are at their lowest in many decades and house prices have stabilised after dropping back from the highs reached in recent years.”

During December 2019, the First Home Buyer share of the owner-occupier market was highest in Western Australia (43.2%) followed by Victoria (40.9%), the Northern Territory (38.4%) and the ACT (32.6%).

The FHB market share was lowest in South Australia (25.7%), followed by Tasmania (27.6%) and New South Wales (30.5%). In Queensland, First Home Buyers account for 31.4% of the market.

All_Issues_Banner-01.jpg
Today's Local News
1232 Live Music Lake Mac InTouch 300x300
4563-Reset_summer_social tile_300x300.jp
Hope Estate_Digital Square_G&J.png
intouch THIS MONTH

ABOUT INTOUCH MAGAZINE

Every month intouch magazine captures the unique spirit of our region and grabs the attention of the community. Intouch magazine showcases what’s hot, what’s on and who’s who with a dynamic blend of inspirational articles, lifestyle features, fashion, events, food and travel – it’s the go-to source for people living in (or visiting) Newcastle, Lake Macquarie, Port Stephens and The Hunter Valley. It’s the place to be seen to build your reputation, tell your story, launch a new enterprise and keep the community intouch both in print and online.

CONTACT US

QUICK LINKS

297 Brunker Rd, Adamstown NSW 2289 

PO BOX 165, CHARLESTOWN NSW 2290

PH +61 2 4943 0888 

EMAIL US

subscribe to  intouch

Copyright 2015-2020 Two Tribes Media. Published monthly by Two Tribes Media. All rights reserved. Permission to reprint or quote excerpt granted by written request only. While every attempt has been made, Two Tribes media cannot guarantee the legality, completeness or accuracy of the information presented and accepts no warranty or responsibility for such.

© 2015-2020 Two Tribes Media