First home buyers numbers fall
FIRST-HOME buyer numbers have fallen to their lowest levels in nearly a decade as low interest rates have failed to entice them.
The proportion of loans written for first-home buyers fell to just 14.2 per cent in March, down from 14.4 per cent in February and is the lowest level since May 2004, Bureau of Statistics figures show. Comparison website RateCity spokeswoman Michelle Hutchison says low interest rates have not had the expected impact of drawing first- time buyers. ‘‘ First- home buyers are really finding it more difficult to afford making that entry into the property market,’’ she said. ‘‘ Loan sizes haven’t increased significantly and interest rates have fallen, so it is more affordable to maintain a mortgage but there’s been a barrier for firsthome buyers.’’