PHOTO: ALDEN WILLIAMS/STUFF First-home buyers are emotional purchasers who are less worried about buying in a weaker market.
First-home buyers borrowed more money in May than investors – the first time they have been ahead since records began.
There was a total of $6.47 billion borrowed from banks in May to buy houses, a decrease of $120 million at the same time last year.
Investors borrowed $1.14b and first-home buyers $1.15b.
The Reserve Bank started its data series in 2014 and this is the first time that first-home buyers have borrowed more than mortgaged investors.
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