- Home
- Home Loans
- News
- First home buyers take out 13.6% of new mortgages
First home buyers take out 13.6% of new mortgages
New statistics on first home buyers have painted a mixed picture, as talk of housing affordability continues to dominate the news.
First home buyers were responsible for 13.6 per cent of the owner-occupier mortgages that were taken out in March, according to new data from the Australian Bureau of Statistics.
That was an increase on the February result, which was 13.3 per cent.
However, it was a decline on the result from March 2016, which was 14.2 per cent.
The average loan size for first home buyers in March was $316,300, compared to $308,900 in February and $328,700 in March 2016.
First home buyer commitments
| March 2017 | Monthly change | Annual change | |
|---|---|---|---|
| Share of owner-occupier housing finance commitments | 13.6% | +0.3 points | -0.6 points |
| Average loan size | $316,300 | +2.4% | -3.8% |
All buyers
Meanwhile, buyers of all kinds signed on for $33.2 billion worth of mortgages in March.
Owner-occupiers represented 60.4 per cent of this share, while investors represented 39.6 per cent.
Between March 2016 and March 2017, lenders reduced their lending to owner-occupiers by 2.6 per cent, while they increased their lending to investors by 8.2 per cent.
Value of dwelling commitments (seasonally adjusted)
| March 2017 | Monthly change | Annual change | |
|---|---|---|---|
| All housing | $33.2 billion | +0.9% | +1.3% |
| Owner-occupier housing | $20.2 billion | +0.9% | -2.6% |
| Investor housing | $13.0 billion | +0.8% | +8.2% |
Disclaimer
This article is over two years old, last updated on May 15, 2017. While RateCity makes best efforts to update every important article regularly, the information in this piece may not be as relevant as it once was. Alternatively, please consider checking recent home loans articles.
Compare home loans in Australia
Product database updated 16 Nov, 2024
Fact Checked
Share this page
Get updates on the latest financial news and products
By continuing, you agree to the RateCity Privacy Policy, Terms of Use and Disclaimer.
