Wednesday, March 13, 2013

Australia First Home Buyers Decline

It seems that the good news about first home buyers may be restricted to Western Australia, as figures from the Australian Bureau of Statistics show that first home buyers are actually leaving the property market in numbers more akin to the GFC in January 2011. 

The last four months to January has seen consecutive drops in first home buyer loans, amounting to a 11% drop over that period. This is significant as sustained recovery usually depends on an increase in first home buyers according to MacroBusiness economist Leith van Onselen who labeled the ABS figures as atrocious.

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