FHB Activity Rebounds
ABS lending indicators show first home buyer loan commitments reached $5.8 billion in March, up 18% from the December quarter, representing the highest quarterly total since June 2024.
Drivers
- LVR easing: CBA and Westpac now accepting 5% deposits for FHB loans (down from 10%)
- Home Guarantee Scheme: expanded from 35,000 to 50,000 places in the May Budget
- Stamp duty concessions: Victoria raised the concession threshold to $750,000; NSW to $800,000
Market Impact
- Entry-level suburbs seeing renewed competition, particularly Melbourne’s west and Sydney’s south-west
- Median FHB purchase price nationally: $612,000
