Things have gone from bad to worse for Australia’s first home buyers (FHBs), with Friday’s housing finance data for August, released by the Australian Bureau of Statistics (ABS), revealing record investor mortgage demand amidst the share of loans to FHBs falling to an all-time low.
According to the ABS, the value of investor mortgages hit a record $127.4 billion in the year to August 2014, up 29% on the year to August 2013, with the share of mortgages (excluding refinancings) going to investors also hitting a record high 47.4% over the year (see next chart).
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