Where have all the First Home Buyers gone?

First home buyer numbers have dropped to the lowest level in a decade as Victoria, New South Wales and South Australia record historic lows.

Numbers in Victoria plummeted to 7.4% for November, from 11.4% the same time last year. NSW also experienced a drop from 2.8% last year to 1.9%. South Australia numbers are even worse, with first home buyers accounting for a measly 6.3% of the market, a staggering drop from last year’s 16%.

Investors, on the other hand reached their highest level in a decade after it increased to 40% of the total property market.

Read more about this on the Cairns Post website.