First home buyers increasing proportion of housing market

SEPTEMBER housing finance figures released by the Australian Bureau of Statistics show first home buyers continue to increase their presence in the housing market.

“The proportion of first home buyers, as part of the total owner-occupied housing finance commitments, in­­­creased to 17.4 per cent and is the highest proportion since (last) November,” Real Estate Institute of Australia president Malcolm Gunning said.

“By contrast, the value of investment housing commitments de­creased by 0.5 per cent in September in trend terms, following falls in the previous four months, and is well down from its 2015 peak.

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