๐๐ถ๐ฟ๐๐ ๐๐ผ๐บ๐ฒ ๐๐๐๐ฒ๐ฟ ๐ ๐ฎ๐ฟ๐ธ๐ฒ๐ ๐ฆ๐ต๐ฎ๐ฟ๐ฒ ๐๐ถ๐๐ ๐ฎ๐ฑ.๐ฐ%
More than a quarter of owner-occupied home loans are now being taken out by first home buyers, according to the most recent data from the Australian Bureau of Statistics.
In May, first home buyers were responsible for $4.155 billion of the $16.366 billion in mortgage commitments by owner-occupiers.
That represented a 25.4% share, compared to a recent low of 21.3% in July 2022.
By way of comparison, the long-term average (since 2002) is 24.7%.
Under the First Home Guarantee (35,000 places) and Regional First Home Buyer Guarantee (10,000 places), the federal government is helping up to 45,000 first home buyers this financial year. Eligible buyers can enter the market with a deposit of just 5% without having to pay lender's mortgage insurance.
Subiaco finance brokers are here to help
Interest rate rises are here, but you donโt have to fear with the right broker on your side.
The team at Sonam Capital are here to empower you through financial knowledge. Weโll take the time to get to know you and your unique situation and speak in a language you can understand, with strategies you can implement for the best possible outcomes.
Nick, Wayne and Amanda at Sonam Capital are your Subiaco finance specialists.
