First Home Buyers Need Encouragement

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 first home buyers are missing out.

Housing finance figures for July 2013 show, in trend terms, that the number of owner-occupied finance commitments rose by 1.6 per cent – following increases of 2.1 per cent in June and 2.4 per cent in May.