First-home buyers in Victoria secure highest amount of loans

The latest indicators data shows Victoria had 3292 new first-home buyer loans in the month of July – at least 850 more than any other other state. 

What's more, in the number of loans issued to Victorian first-home buyers was 13.9% higher for the July quarter compared with the same period last year.

This placed the education state out ahead of the Northern Territory (10.6%), Queensland (6.8%), New South Wales (4.1%), and Tasmania (1.7%) for annual growth. 

The Australian Capital Territory, Western Australia and South Australia all saw a decline in the number of home loans secured by first-home buyers in the measured period.

Despite Victoria’s successes, WA has come out on top as the state to have secured the highest number of loans for new home purchase or construction.

ABS data shows the wildflower state saw a 54.5% jump in loans in the three months to July ahead of Queensland (17.5%), South Australia (11%), NSW (9.9%), Victoria (8%), Tasmania (5%), and the ACT (2.8%).

Only NT recorded a decline for purchase or construction loans, down 4.4% compared to the previous year.