Coming up, my Friday finance update for the 12th of April 2019: This weeks headline, First Home Buyers hit a 6 year high!
In an encouraging sign the number of first home buyers entering the Australian housing market has hit a six-year high.
New home lending figures from the Australian Bureau of Statistics reveal the share of first home buyers in the owner occupied home lending figures, rose to 27.1 per cent in February.
That’s an increase of approximately 6% when compared with February 2017. It really is a good time to be a first home buyer. After 5 years of contending with investors and foreign buyers, finally first home buyers find themselves in a market where they can compete, aided by rapidly falling prices, first home owner grants and stamp duty exemptions.
Speaking of rapidly falling prices, Core Logics latest data for the month of March reports at the 5 capital city aggregate level a -0.73% drop in prices for the month.
The worst performing capitals for March were Sydney down -0.88% and Melbourne down -0.79%.
Interestingly Brisbane is starting to see accelerating falls with March recording a -0.59% drop. Perth dropped -0.41% and Adelaide dropped -0.23%.
The only 2 capitals to record an increase in March were Hobart, up .57% and Canberra up 0.01%
So I will end this weeks update on that note. As always, if you feel this video provided useful information please leave a like and don’t forget to subscribe, connect or follow, depending on what platform you are viewing it on. If you have any questions let me know in the comments below or you have any enquiries regarding finance please give me a call.
Thanks for watching and see you next Friday.