by Marshall Cobb - Head of New Projects
The ABS released some interesting data this week on the state of our property finance market for May 2017...
Clearly the actions taken by the regulators and banks to tighten lending to investors and foreigners has dampened those buying sectors, while the owner-occupied market has remained steady.
On the other hand, the number of first home buyers increased dramatically, and as the government incentives only kicked in this month, they are not yet reflected in the data. We expect to see the first home buyer market share increase further over the coming months.
No surprises here, with the markets reacting exactly as expected.