FHB patsies continue to stave off deeper property downturn

Wednesday 6 June 2018

CoreLogic’s daily home values index for May showed that quarterly values are falling fastest in Melbourne (-1.2%) and Sydney (-0.9%), which has dragged the five-city index down by 0.7% over the quarter:

As we have reported previously, first home buyer (FHB) stamp duty incentives were introduced in both NSW and VIC from 1 July 2017, which has driven a 63% and 24% respective lift in the number of FHB housing finance commitments versus the prior year:

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.