First Home Buyers Back in the Market Driving Ongoing Demand for Residential Housing

Strong ongoing sales enquiry across each of CFMG Capital's latest residential communities is supported by the latest industry data and reports of an increase in first-home buyer activity.

Official figures show that 8,573 mortgage loans were taken out by first-time buyers in June, which is the highest level in almost three years.

CFMG Capital’s trading performance across each of its communities in Victoria and South East Queensland is following a similar trend with The Millstone in Victoria now seeing 179 contracts having been exchanged (representing $28.9 million in sales value), stage 1 of Solander at Park Ridge having sold out and the recently launched communities - Oakland Pocket at Morayfield and Middleton Park at Logan Reserve  - both seeing strong pre-sales enquiry from both local volume builders and local owner occupiers alike.

Treasurer Scott Morrison and the Real Estate Institute of Australia have welcomed indications of an upturn in first-home buyer activity. The total value of loan commitments to this segment of the mortgage market topped $A28.5bn in the year to June. Meanwhile, loan commitments to property investors rose by 10.5 per cent to $A152 billion in 2016-17, in seasonally-adjusted terms.

Reported by Michael Bleby in the Australian Financial Review 10 August 2017.