First Home Buyers Australia

First Home Buyers Bounce Back on Stamp Duty Concessions in Vic and NSW

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NSW

There were 2,426 first home buyer commitments in August which was the greatest monthly number since January 2012.  First home buyers accounted for 12.9% of owner occupier commitments over the month which was the highest proportion since October 2012 and up from a recent low of 7.5% in February 2017

Vic 

In August 2017, there were 3,162 first home buyer first home buyer commitments in Vic accounting for 18.3% of all owner occupier commitments.  The 3,162 commitments was the greatest number since December 2009 and the 18.3% was the highest proportion since August 2013.

Qld

The number of first home buyer finance commitments in August 2017 (2,190) was higher than the previous month but lower than the number in June.  The number of commitments in August was 17.9% higher than its long-term average.  Over the month, first home buyers accounted for 19.4% of all owner occupier finance commitments, down from 20.1% in July.

SA

The 490 first home buyer finance commitments in August 2017 was higher over the month but -17.7% lower than the state’s long-term average.  First home buyers accounted for 12.7% of all housing finance commitments in August and the proportion of first home buyers has not been above 13% since August 2014 despite South Australia being the state with the nation’s second most affordable housing market (behind Tasmania).

WA 

In August 2017 there were 1,589 first home buyer commitments which accounted for 26.2% of all owner occupier housing finance commitments.  The 1,589 first home buyer commitments was the greatest number since June 2015 and was 17.7% higher than the long-term average.  The 26.2% of all owner occupier commitments going to first home buyers was slightly lower over the month but was the highest proportion of first home buyers amongst the states and territories.

Tas

There were 129 first home buyer finance commitments in Tas in August 2017 which was -22.3% lower than the state’s long-term average.  First home buyers accounted for 12.3% of total owner occupier housing finance commitments for the state which was the lowest proportion of all states and territories.  Although the level of first home buyer activity is low, as a proportion it has increased over each of the past two months.

NT 

In August 2017 there were 60 first home buyer finance commitments which accounted for 20.5% of total owner occupier housing finance commitments over the month.  The 60 commitments over the month was -28.6% lower than the long-term average of 84 commitments a month.  With first home buyers accounting for 20.5% of all owner occupier commitments, their levels of participation is the second highest of all states and territories.

ACT

There were 231 first home buyer finance commitments in August which was 47.7% higher than the long-term average.  First home buyers in the ACT accounted for 19.3% of all owner occupier housing finance commitments which was slightly lower of the month.

(CoreLogic )