10% rise in Australia home buyers
27 May 2015 by News Desk
The outlook for first time home buyers in Australia remains positive, according to latest official figures.
The number of first home buyers has increased by 16.7% since Jan 2015 compared to the same period last year. Latest ABS data shows the number of home loan approvals in Victoria increased by 10.9% in March. The average approved loan for a Victorian first home buyer was $319,100, 4.3% higher than March last year.
Many houses and apartments in Australia are bought and sold via an Auction process, most often taking place at weekends. Melbourne last weekend played host to over 950 property auctions, a rise of almost 10% compared to the same time last year.
The inner city region saw the highest number of auctions with 162, followed by the inner south at 149, the inner east at 145, the west at 140, the north east 136, the outer east 117, the northern suburbs 57 and the south east with 50 auctions.
Port Melbourne was the most popular suburb with 22 listed auctions followed by Richmond with 18, Brighton East 17, South Yarra and Reservoir each with 16, East Doncaster 15 and Preston and St Kilda each with 14 auctions.
The up-scale area of Brighton has recorded the highest number of million-dollar-plus sales over the first four months of this year with 117, followed by Glen Waverley with 109, Mount Waverley 106, Balwyn North 95, Kew 85 and Camberwell 69, according to a report by the Domain Group. With the exception of Brighton, eastern suburbs dominate the list, in particular Glen Waverley and Mount Waverley.
