property real estate billy dounis

Skewed Numbers

According to the latest ABS data and recent reports in the media, first home buyers are at record breaking lows. However there has been much discussion and debate over the contraction and it has now been suggested that the numbers are simply ‘skewed’

Is it possible that first home buyers are flying under the radar and not indicating to the ABS that they are first home buyers?

Where a first home buyer isn’t eligible for any kind of concession or grant it is possible that the ABS is not accurately recording these purchases as one of a first home buyer.

Furthermore, many first home buyers are buying investment properties as their first home and this may mean that as their first property is not their principle place of residence they are not being recorded by the ABS as first home buyers.

In 2009 when there were very generous grants and concessions available to first home buyers we saw the number of first home buyers surge.

For many first home buyers the areas they want to live are becoming increasingly out of reach and simply too expensive so they purchase an investment property in a area/suburb that they can afford and continue renting in an area close to their place of work and that suits their lifestyle.

The ABS housing finance data figures for August found only 6,054 first home buyers signed up for housing finance, the lowest month-on-month reading since 2000.

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