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First Home Buyer Levels Drop

According to a recent report, first home buyer numbers have plummeted to their lowest levels in four years, as the property market boom continues to push people interested in property in Darwin away.

Figures from Australia’s biggest mortgage broker, Australian Finance, showed they processed $3.9 billion of new home loans in August, but only 9.5 per cent were for first home buyers.

Of all the home loans processed by AFG last month, NSW was hit the hardest with only 3.5 per cent of all loans being first home buyers – a far cry from its peak of 21.1 per cent in 2011.

In the Northern Territory, first home buyer numbers comprised 13.9 per cent, in Queensland 5.5 per cent, in Victoria 9.4 per cent, SA 9.8 per cent, and WA 21 per cent.

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