Brisbane's sales market

Useful Facts Without Opinions: First home buyers

If you’ve seen the new ads on TV you’ll notice the state government’s working hard to encourage first home buyers to sign up for a brand new home. But since last year’s grant for buying a second-hand home was canned there’s been a noticeable change in FHB numbers. Thanks to REIQ and ABS here’s some stats:

  • In January Queensland’s FHB numbers sunk to new depths, registering just 750 dwellings financed (down 52.6%), marking the lowest ever result since the ABS began publishing such data from 1991.
  • Queensland’s non-First Home Buyer dwellings financed totalled 6,448 for January 2013, up 11.7% on the same month in 2012.
  • Nationally the average loan for FHB’s rose $2,800 to $297,100 in January. The average loan size for all owner occupied housing commitments fell $1,200 to $307,100 for the same period.
  • The number of FHB commitments as a percentage of total owner occupied housing finance commitments remained at 14.9% in January 2013.
  • This is the weakest proportion of first-home buyers in the housing market since June 2004
  • The new Qld state government incentive for new homes has been slow to gain traction. Property Observer reports “Just 126 first-home buyers have taken advantage of the FHOCG since it was launched on September 12 last year”.

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