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.

Author: Dorian Traill

Dorian Traill is the current Director of Grand Capital Finance Group and Fountain Property Group. He specialize in home loans for people as well as helping them build wealth through quality investment properties that ultimately lead to long term financial freedom.

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