First home buyer activity stalls

Housing finance for first home buyers has fallen to its lowest level in six years, new data shows.

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According to figures released by the Australian Bureau of Statistics today, first home buyer loans accounted for just 15.5 per cent of all owner occupier loans written in August.

This compared to 15.9 per cent in July and 20.5 per cent in January this year.

In May last year, when the cash rate sat at just 3 per cent, first home buyer commitments peaked at 28.5 per cent of all owner occupier commitments.

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