First Home Buyers about to return?
That is certainly the situation according to Terry Ryder from Hotspotting who believes that First-Home Buyers (FHBs) are expected to re-enter the market in numbers soon.
The Housing Industry Association says the current low First Home Buyers share of the owner occupier market is a temporary phenomenon.
The HIA says factors keeping First Home Buyers out of the market include the age structure of the population, labour market weaknesses and FHB caution in entering a recovering market.
Australian Bureau of Statistics data showed the November market share was the lowest since statistics based on mortgage lending volumes began in 1991.
FHB participation peaked in late 2009 as a result of low interest rates, attractive prices and the Federal Government’s fiscal stimulus.