NSW and QLD first home buyers figures

[Marty McDonald]

Just reading how the FHB figures have plummeted in NSW & Qld with the incentives only available for new dwellings now. This has brought out all the D & G's on Fairfax.

The funny things is (to me at least) is I think the figures are probably wrong / overstated.

I can't see how they would be able to collect accurate figures now. If FHB's are not eligible for the grant then lenders are not processing the grant for them so how do they pass onto the ABS which of their borroiwers are first home buyers!! They dont ask this and it is not relevant to the credit decision.

Damn lies and statistics?

 

[Angel]

Qld Stamp Duties office will know whether a buyer is a FHB, an "other" Owner Occupier or an investor.

 

[Marty McDonald]

Not in nsw they won't as no stamp concessions for anyone. And stamps not relevant to the monthly loan approval stats either.

 

[Rolf Latham]

Not in nsw they won't as no stamp concessions for anyone. And stamps not relevant to the monthly loan approval stats either.

Loan approvals per se are pretty irrelevant anyways.

Many preapproved investors cant find "anything decent" to buy.

This applies across much of Sydney, a lot of inner and middle ring Brisbane and middle Perth.

ta
rolf

 

[Aaron_C]

I am not surprised with the figures here in Victoria - our FHB market (i.e. new estates on the fringes) is pretty terrible due to the withdrawal of the major incentives and replacement with lower stamp duty.