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‘Catch-up energy’ as first home buyers jump back into the market

Mortgage lending is on the rise with first home buyers rushing back into the market.

The total number of owner-occupier loans for dwellings lifted by a seasonally adjusted 3.5 per cent.

There was a 6.2 per cent increase for both the value and number of loans to new property owners during the month of December.

Property Economist Andrew Wilson tells Brooke Corte first home buyers could be rushing into the market before prices are pushed back up.

“We’ve got a lot of catch-up energy even though prices have grown they still remain just below what they were two years ago.

“Of course, that means that buyers mostly have been buying at a discount.”

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Image: Getty/simonlong