Australian Baby Boomers activity up First Home Buyers activity down

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The latest figures from the Australian Bureau of Statistics (ABS) show that the home loan market strengthened amid low interest rates in November but with first-home buyer activity falling to 12.3% nationally, the previous low was 12.5% in October.

Despite the growth in investor activity slowing, and with first home buyer’s share of home-loan approvals falling to a record low, it looks like they are being squeezed out of the property market by baby boomers.

The latest figures from an ANZ survey found job advertisements declined by 0.7 per cent in December, but were stabilising in some states, after an annual drop of 9 per cent.

Investor finance was up 45% compared to last year, according to October numbers.

Home buyers with a budget of up to $400,000 to $500,000 are being advised to look for true value in Queensland where the property market is right for buyers seeking a nice home and lifestyle plus a safe and clean environment for their children.

Separate figures released by mortgage broker AFG on Monday showed that the number of mortgages it processed in the second-half of last year soared by 18.9 per cent on the back of demand from investors.

Some economists are predicting that with the strength of the housing market, coupled with rising prices and the continued movement in residential building approvals meant the Reserve Bank was likely to keep the cash rate on hold this year.

But that’s what some economists are saying and the reality could be a whole lot different? 

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