Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
subscribe to our newsletter
subscribe to our newsletter

FHB mortgage values rise 10.5pc

First home buyer numbers have climbed substantially over the past year despite a decline over the past month.

New data from the Australian Bureau of Statistics revealed that first home buyers represented 14.2 per cent of housing finance commitments in January.

That was up on the 13.2 per cent share recorded the year before but down on the 14.5 per cent recorded the month before.

Advertisement
Advertisement

The average loan size for first home buyers rose 10.5 per cent year-on-year to $334,000, while the average loan size for all owner-occupiers climbed 7.3 per cent to $347,000.

Australians made $30.2 billion of housing finance commitments in January, an increase of 12.6 per cent.

The owner-occupied share of those commitments grew 7.2 per cent to $17.7 billion, while the investor share jumped 21.2 per cent to $12.5 billion.

The total number of finance commitments rose 0.7 per cent to 51,396, which was driven by a 1.9 per cent rise to 43,018 for the purchase of established homes.

However, commitments for new homes fell 7.9 per cent to 2,546, while commitments for home builds fell 4.1 per cent to 5,832.

FHB mortgage values rise 10.5pc
mortgagebusiness

Latest News

A major insurance provider has announced that it would restrict its offering of lender’s mortgage insurance in light of emerging risks ass...

Lenders will be allowed to extend their pre-approval period for borrowers using the First Home Loan Deposit Scheme given the coronavirus pan...

The federal government has announced several changes to the Takeovers Panel, which include the reappointment of an ANZ executive and the ap...

FROM THE WEB
podcast

LATEST PODCAST: Further relief for SMEs and borrowers

Do you expect COVID-19 to reduce or increase your business flows?

Why we’ll keep delivering for our communities in the face of COVID-19

alex

As Australia tries to keep pace with a rapidly changing business and social landscape in the wake of COVID-19, Momentum Media is leading the way delivering essential content to our communities, writes Alex Whitlock, director of Mortgage Business.

Read more

Website Notifications

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