First home buying levels hit new high - Breaking News - Business - Breaking News

First home buying levels hit new high - Breaking News - Business - Breaking News: "First home buyers are emptying their piggy banks and putting down deposits, attracted by stable interest rates and additional incentives to borrow in a competitive lending environment.
Figures from the Australian Bureau of Statistics this week showed the proportion of all home loans approved going to first home owners hit a three-year high in August, rising to 17.3 per cent from 16.4 per cent.
CommSec chief equities economist Craig James said the improved affordability of housing was highlighted by the fact that the average loan taken out by first home buyers in August was only 2.9 per cent higher than a year earlier - the smallest growth in just over four years."
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