Investor loans at 49.7% of July activity: ABS
Investor loans accounted for 49.7% of loans in July – its highest share on record.
First home buyers were inactive, with just 13.2% of the total number of loans written to owner occupiers.
Australian Property Monitors senior economist Dr Andrew Wilson said the first home buyer trend was set to continue for years.
"It only gets harder as prices rise," he told Ross Greenwood on 2GB's Money News when asked about the fate of first home owners.
"Just wait, it is a longer journey," Wilson advised first timers.
The highlight in the housing finance data was the spike in the value of lending to investors in July, said CBA economist Gareth Aird.
"Credit to investors is up almost 30% through the year," said Aird.
"Low interest rates and the expectation of future capital gains mean that investors in Australia are currently the major driver of the property market.
"One consequence is that rental growth is likely to be weak as the proportion of dwellings available for lease is lifts."