PHOTO: The withdrawal of investors and owner occupiers has opened the door for first home buyers, according to experts. Source: istock
NEW housing loans have hit their lowest level in four years, latest ABS figures show — and here’s why that’s extremely good news if you’re a first homebuyer.
New lending crashed to its lowest level since August 2014, according to Australian Bureau of Statistics housing finance data out Friday, falling 3.8 per cent in the month seasonally adjusted.
In what’s become a boon for first home buyers, both investors (-2.8 per cent to their lowest level since July 2013) and owner-occupiers (-4.2 per cent — lowest level since July 2015) have begun holding off.
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