This is up 25.5 per cent from the same time last year and is the fastest pace at which first home buyers have flooded the market in 10 years, according to Australian Bureau of Statistics figures reported on Domain.
Growth in loan values also hit an impressive pace, soaring 46.2 per cent to $4.19 billion.
We suspect the champagne flowed just as fast as this rush of newbies popped corks on the doorsteps of their first homes.
Owner-occupiers have outpaced investors with the total value of loans to owners rising 26.9 per cent in January compared to a year earlier.
No doubt the First Home Loan Deposit Scheme has also enticed a wave of buyers into the market sooner than they had otherwise thought possible with just a 5 per cent deposit and no lenders’ mortgage insurance.
The good news for Brisbane buyers is that we have a higher percentage of properties for sale within the Scheme price threshold than any other capital city.
A Domain analysis of capital city property sales from July to December last year shows Brisbane had 13,500 of its 33,315 property sales under the Scheme threshold of $475,000 – that’s a whopping 41 per cent. This included 34 per cent of house sales and 65 per cent of all unit sales.
This means first time Brissie buyers looking to take advantage of the Scheme, have a wide variety of properties and locations they can choose from.
Want to buy your first home sooner in one of Australia’s most affordable cities? Contact us for a chat or view our current listings for sale.
