First Home Buyers Need More Than Interest Rate Cuts

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 whilst total lending for housing is growing in response to interest rate cuts and the positive housing outlook, first home buyers are not responding. Housing finance figures for June 2013 show, in trend terms, that the number of owner-occupied finance commitments rose by 1.9 per cent – following increases of 2.3 per cent in April and 2.2 per cent in May.