One in five are first home buyers

ONE in five Queensland buyers were first homeowners in January, with the state pulling above national average and leading the east coast.

Latest housing finance figures from the Australian Bureau of Statistics found first homebuyer levels were now at a five-year high — led by high levels in Queensland, the Northern Territory and Western Australia.

Housing Industry Association economist Shane Garrett said nationally 18 per cent of January property buyers were first homeowners.

“This is the highest monthly share in over five years.”

Mr Garrett said the pick-up was also down to intervention by both the New South Wales and Victoria whose FHB grants were increase last year and more stamp duty concessions put in.

“The experience of the past year proves that governments can play a very positive role in bringing home ownership within much closer reach for younger Australians.”

FIRST HOMEBUYER PARTICIPATION RATE:

Northern Territory 26.8 per cent

Western Australia 25.2 per cent

Queensland 20.5 per cent

Victoria 19.1 per cent

ACT 18.1 per cent

New South Wales 13.9 per cent

Tasmania 14.5 per cent

South Australia 13.1 per cent

(Source: ABS/HIA, January 2018)

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