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ABS figures show signs of a stabilising and growing property market
The Real Estate Institute of Australia (REIA) President, Mr David Airey said ABS figures released today highlight
a property market that has stabilised and showing signs of growth as investors make a return to the market, with
first home buyers continuing to be very active.
“This is a really positive sign for the property market and shows that investors are starting to re-gain their
confidence while the main driving factor for first home buyers are low interest rates and the availability of the
First Home Owner’s Grant Boost (FHOG Boost)”, continued Mr Airey.
The data released also shows a 0.9% increase in the number of established home purchases, in comparison to a 0.5% decline in the number of new home purchases.

“These results show that REIA made an accurate assessment of buyer preferences in its submissions for an extension of the FHOG Boost for both new and existing homes”, continued Mr Airey.
“While the proportion of first home buyers increased to 28% of total owner occupier housing finance
commitments, the average loan size decreased by $2,500, reflecting the tightening of bank lending practices in
the current economy”, concluded Mr Airey.
REI Media Release Wednesday 10th June 2009