To save me a whole lot of work (navigating around the ABS spreadsheets is a right royal pain in the butt IMO), Michael Matusik has analysed the March Housing Finance data in some detail on Property Update here:
Matusik's key findings relating to FHBs (and it's not particularly great news):
- "The proportion of first home buyers in the New South Wales & Queensland markets is very low, at 4% & 5% respectively. They were 13% & 16% just a year ago. First home buyer activity has increased in Victoria (18% market share) as well as in South Australia (14%) and even in Western Australia (23%, up from 20% the year before).
- In terms of actual numbers, there were 92,700 first home buyers (who took out a loan) across Australia for the year ending March 2013; this is down 4% on the year before.
- Based on annualised results – the number of first home buyers in New South Wales is down 39% or by 12,000 on the year before. Queensland numbers are down 750 or 4% on the previous year, but down 21,000 (yes 21,000 buyers) from the 2010 market peak. They are up 30% in Western Australia (4,200 more this year versus last); up 15% in South Australia (up 760) & up 13% in Victoria (up 3,200).
What about new dwellings?
Is there any good news out there?