Mortgage data for December published this week by the Australian Bureau of Statistics (ABS) revealed that first home buyer (FHB) is red hot, surging a whopping 61% year-on-year to 25% of all mortgages issued:
The new home market is also booming on the back of surging FHB demand:
Advertisement
The catalyst for this rise, outside of interest rate cuts, are the generous subsidies on offer from the federal and state governments, most notably the First Home Loan Deposit Scheme (FHLDS).
