FHBs Loans Reach Decade High

First-home-buyer home loans surged in December
to their highest level since late 2009, according to
new ABS data.

Master Builders chief economist Shane Garrett says
the volume of home loans to FHBs increased 6.2%
to record a monthly total of 9,606. The last time a
higher monthly total was recorded was exactly 10
years ago – back in December 2009.

“The good news is that FHB activity has stepped up
even further since the start of this year,” he says.
“The new First Home Loan Deposit Scheme is
already a big success and the official data will show
more big gains for FHBs once it is released.”

During December, the FHB share of the owneroccupier
market was highest in Western Australia
(43%) followed by Victoria (41%), the Northern
Territory (38%) and the ACT (33%).

This week’s figures also show that other areas of
the housing market are recovering well. Property
investor loans expanded for the third consecutive
month and hit a 14-month high during December,
Garrett says.