There are more Australian first home owners in the market today as a proportion of all home buyers than there have been for more than five years.
The uptick – which reverses an eight year downward trend and sees first home owners make up 18% of buyers in the market – has caused much excitement among commentators. And when you look at the growth figures, it’s hardly surprising.
In the year to date, the number of first home buyers per month has increased a staggering 25%. There are 2,800 more first home buyers in the market today than in November 2016.
However new ABS data reveals that just looking at the number of first home buyers does not tell the whole story.
Source: ABS Housing Finance, Australia, November 2017