First Home Buyers Hit Nine Year Low

March 24th,2014

The Real Estate Institute of Australia (REIA) says the latest housing finance figures released by the Australian Bureau of Statistics (ABS) show that total lending for housing continues to grow steadily in response to interest rate cuts and the positive housing outlook, but that the rate of increase is slowing down.

Housing finance figures for August 2013 show, in trend terms, that the number of owner-occupied finance commitments rose by 0.6 per cent – following increases of 1.0 per cent in July and 1.5 per cent in June. This was the lowest monthly increase, in trend terms, since January.