With investor activity easing and attractive incentives becoming available in NSW and Victoria, there has been a rebound in borrowing by first-home-buyers over the past year.
Some states and territories have increasingly offered stamp duty reductions for buyers, with these going live last year in NSW and Victoria – and activity from the first-home-buyer segment has climbed over the past year.
Nationally, there were 8,782 home finance commitments in February, with first-home-buyers accounting for 18% of owner-occupier commitments, compared to 13% the previous year, according to ABS data.
There are different trends in the individual states and territories.
In NSW, first-home-buyers now account for 15.1% of owner-occupier finance commitments, up from 7.5% a year earlier. In Victoria, first-home-buyers are 18.3%, compared to 13.9% a year earlier, while in Queensland FHBs account for 19.3% in February, up from 17.6% a year earlier.
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