FHBA Weekend Preview: 15 – 16 July 2017
Recently there has been a range of your new measures designed to dampen investor activity and increase first home buyer activity. A lot of these changes (such as new stamp duty exemptions and concessions in NSW and Victoria) commenced just 14 days ago (on the 1st of July).
Which brings us to some interesting data NAB shared publically this week. In the June quarter (1 April 2017 – 30 June 2017) the proportion of total property sales going to first home buyers increased. The increase was recorded prior to the commencement of the 1 July changes to first home buyers.
According to the NAB June quarter residential property survey first home buyers (fhb’s) were the biggest players in new property sales and the second biggest in established property sales.
New property:
- 21% of total sales went to fhb owner-occupiers
- 14% of total sales went to fhb investors
- That’s a combined total of 35% of new property sales going to first-timers
Established property:
- 18% of total sales went to fhb owner-occupiers
- 10% of total sales went to fhb investors
- That’s a combined total of 28% of established property sales going to first-timers
Meanwhile, investor activity was down.
And the news get’s better for first home buyers. NAB is also predicting that the growth of property prices will slow, both in the coming months and years.
If this proves to be true at a time when government help for first home buyers is increasing and rules for investors are tightening, will first home buyer activity increase further in the coming months?
Only time will tell.
The other interesting thing to note is how many first home buyers are entering the property market as investors. Pretty high numbers. If your wondering whether you should enter the property market as a owner-occupier or as an investor be sure to get in touch with an FHBA Coach.
As for this weekend, according to CoreLogic auction acivity is down again in most capital cities, with less than 1,500 auctions scheduled around the country.
Want to know more about this weekend’s auction activity? See the CoreLogic blog
Good luck to all first home buyers this weekend!
First home buyer homes of the week: edition 62
These are our favourite 5 new properties for first home buyers looking for FHOG eligible homes, this week:
New South Wales new home of the week
Queensland new home of the week
South Australia new home of the week
Western Australia new home of the week
What a townhouse Melbourne (and with change from $500k!)
Open homes and auction weather
See what the weather will be like in your area before you attend open homes and auctions!
COMING SOON
Current hotspot in focus: Ipswich
Every fortnight we take a closer look at an area in Australia that is popular with first home buyers. Our current hotspot in focus in Ipswich, Queensland.
- Ipswich is located 44km south west of Brisbane
- Ipswich is renowned for its architectural, natural and cultural heritage with over 6,000 heritage listed sites and 500 parks for residents to enjoy
- With a variety of affordable housing options, transport & good roads to Brisbane, plus infrastructure spending on the rise in the area, it is not hard to see why Ipswich is popular with first home buyers
Learn more about Ipswich including current opportunities to enter the Ipswich property market
Current first home buyer hotspot: Ipswich
House hunt with confidence
Planning on going house hunting soon but don’t know whether a bank will lend you enough funds to buy your first home yet?
You should get a no obligation home loan pre-approval! A loan pre-approval provides you written guidance of how much a particular bank is willing to lend to you. A loan pre-approval comes with no obligations to proceed, leaving you in control and importantly, attending open homes knowing what your borrowing capacity and budget is.
To organise a no cost loan pre-approval speak with an FHBA Broker from FHBA Mortgages today
Search FHOG eligible homes from your couch
Are you in the market for a newly built property? This could be a house & land package, a townhouse or a newly constructed apartment. Search our new look ‘new homes’ portal this weekend to see hundreds of Grant eligible properties suitable for first home buyers!
Search first home buyer homes here
1 July 2017 changes to government assistance for first home buyers
On the 1st of July many state government assistance measures for first home buyers (such as the First Home Owners Grant and stamp duty concessions) had some form of change. We have summarised all the changes in a free quick guide available on our website here. In the quick guide simply select your state for a free guide to your state’s government incentives.
Get your free quick guide to the changes of Grants and concessions for first home buyers
Friday News Review
https://www.facebook.com/fhbah/posts/1249898491799352
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Written By,
First Home Buyers Australia
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