First home buyers winning more auctions as investors retreat from market
New investor home lending fell a record 30.6% in September while owner-occupiers claimed 68% of new loans.
Rising interest rates and Labor's tax changes have triggered the steepest drop in investor property lending on record. Investor loans fell 30.6% to 35,301 in the September quarter, while total home lending fell 15%.
Owner-occupiers, including first home buyers, took a smaller hit: their lending fell only 5.3%, pushing their market share from 59% to 68%. First home buyers are winning more auctions they compete in, though their own lending still fell 8.6%.
Housing Minister Clare O'Neil said the shift shows the tax changes are working as intended. Across major cities, property listings have soared and prices are falling, with Brisbane's median dwelling value down 2% in October alone.
- 30.6%
- Investor lending decline
- 68%
- Owner-occupier market share
- 35,301
- Investor loans issued
- 2% in October
- Brisbane price drop
Why it mattersOwner-occupiers gaining ground means first home buyers have a better chance of buying, but falling prices and high rates still make entry tough.
AustraliaAustralian property market cooling shifts power toward first home buyers, though affordability remains strained by high interest rates.
