First home buyers fade, investors rise

New figures from the Reserve Bank show annual growth in new mortgages to investors rose by 11.5%, while first home buyer growth fell back 12.5% and movers declined to 1.1%.  Growth in mortgages for business purposes rose a significant 43.9%.

While the share of new mortgages to investors fell slightly on a monthly basis, down to 18.6% in June from 18.9% in May, that figure is still a substantial increase on the 16.5% in June last year.

For first home buyers the share was at 21.6% last month, up from 21.4% in May, however, this is an annual drop from 24.4% in June last year.

Movers’ share of new mortgages fell to 57.9%, down from 58.3% in May-24. In June last year, the share was 57.8%.