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Friday, 22 November 2019

20,000 new first homebuyers in 2020

FHBs return

There's been a notable resurgence of first homebuyers, up to about 30 per cent of owner-occupier mortgages:

Hat tip to Jonathan Chancellor at Property Observer - the Treasury exposure draft suggests that 10,000 first homebuyers can be accommodated by the proposed first home loan deposit scheme (FHLDS) each financial year:

Source: Treasury

Which potentially means 10,000 in the first half of 2020, and another 10,000 from 1 July, making a total of 20,000 buyers next year. 

ADI capital requirements have been adjusted to support the scheme, which will allow potential first homebuyers with a 5 per cent deposit to buy a home.