Digital Finance Analytics (DFA) Blog
"Intelligent Insight"
The ABS released their Housing Finance data to May 2017 today. Overall, trend housing finance owner occupied housing commitments rose 0.4%, while investment housing commitments fell 1.5%. The trend estimate for the total value of dwelling finance commitments excluding alterations and additions fell 0.3%. First, there was a rise in the number of first time … Continue reading “First Time Buyers Up, Investors Down”
Suncorp has announced an exclusive new offer for first home buyers to “help them realise their property ownership dreams”. Suncorp’s Home Package Plus Special Offer for First Home Buyers allows customers to choose from a Standard Variable rate or a 5 Year Fixed rate of 3.99% p.a. on new lending of $150,000 or more. The … Continue reading “Suncorp Targets First Time Buyers”
AFG has released their mortgage index today including Q3 2017. The overall volume of lodgements fell again, though volumes are still higher than last year at this time. This data provides additional insights into the market, with the caveat, it reflects transactions via the AFG channel only. The mix between majors and non-majors remained similar … Continue reading “AFG Highlights First Time Buyers”
In The Business tonight there was a segment on the issue of making super accessible to facilitate first time buyers entry into the housing market. Something which today the Government has ruled out, killing off recent speculation. We feature in the segment. The super industry has launched an unprecedented advertising attack against the big banks … Continue reading “The Business Does First Time Buyers And Raiding Super”
The ABS released their Housing Finance data today, showing the flows of loans in January 2017. Those following the blog will not be surprised to see investor loans growing strongly, whilst first time buyers fell away. The trajectory has been so clear for several months now, and the regulator – APRA – has just not … Continue reading “Investors Boom, First Time Buyers Crash”
We have updated our analysis of assistance first time buyers are getting from their families in a desperate effort to get into the housing market at a time when the entry barriers in terms of price and affordability are as high as ever they have been. In addition, high loan-to-value loans are less available, so … Continue reading “More First Time Buyers Open An Account At “The Bank of Mum and Dad””
Compared with 12 months ago, First Time Buyers are caught in the jaws created by a combination of tighter mortgage underwriting standards and higher property market prices. Together these forces make the prospect of a purchase significantly less likely. This conclusion is drawn from our updated our household surveys. Looking in detail at the survey … Continue reading “First Time Buyers Caught In The Property “Jaws””
As we continue our look at the results from our household surveys, we turn to first time buyers. They are still active in the market, though struggling with high home prices and tighter lending criteria. Last month the number of owner occupied first time buyers fell. One significant factor in the mix is the extent … Continue reading “First Time Buyers Ever More Reliant On “The Bank of Mum and Dad””
Continuing our series on the latest Digital Finance Analytics household survey results, today we turn to those wishing to enter the property market for the first time. Looking briefly at those wanting to buy, but are not able to at the moment (about 1.1 million households, down from 1.3 million last year), whilst fear of … Continue reading “First Time Buyers Still Determined But Under The Gun”
Rounding out our survey findings, we look briefly at the first time buyer market segment. We noted in the summary that there was still demand – and we see this translated into both owner occupied and investment property purchases. The “Bank of Mum and Dad” is becoming an important factor, with more than half of … Continue reading “First Time Buyers Continue To Be Squeezed But Still Want Property”