Owner occupiers disappearing from market
The home buying market has been in a long slow decline for 12 months. Housing credit for owner-occupied housing grew by just 0.4 per cent in June according to an analysis of RBA credit aggregates by Retail Finance Intelligence (RFi) who said owner occupied credit has been on a downward growth trend for one year.
First home buyers now comprise just 16 per cent of all home buyers. Investment housing credit grew by 0.6 per cent in June to $335.2 billion, while total housing credit grew by 7.9 per cent over the course of the year.
Source: The Advisor