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The latest mortgage data from the Australian Bureau of Statistics (ABS) shows that investors are beginning to take-over from first home buyers (FHB) in driving property demand.
Investor mortgage commitments surged 29% over the first three months of 2021 and are now clearly crowding-out FHBs:
Investors are once again crowding-out first home buyers.
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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.