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Housing Turnover and First-home Buyers

Author

Listed:
  • Paul Bloxham

    (Reserve Bank of Australia)

  • Daisy McGregor

    (Reserve Bank of Australia)

  • Ewan Rankin

    (Reserve Bank of Australia)

Abstract

While housing turnover varies over time, on average, around 6 per cent of the housing stock, or around 500 000 dwellings, change ownership each year. In 2009, first-home buyers accounted for an unusually large share of this turnover, although this share has since declined. As first-home buyers make greater use of mortgages to fund purchases than do repeat buyers, this shift in the composition of turnover helps to explain the recent divergence in movements in housing prices and loan approvals.

Suggested Citation

  • Paul Bloxham & Daisy McGregor & Ewan Rankin, 2010. "Housing Turnover and First-home Buyers," RBA Bulletin (Print copy discontinued), Reserve Bank of Australia, pages 1-5, June.
    • Handle: RePEc:rba:rbabul:jun2010-01
    as

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    File URL: https://www.rba.gov.au/publications/bulletin/2010/jun/pdf/bu-0610-1.pdf
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    References listed on IDEAS

    as
    1. Carl Schwartz & Tim Hampton & Christine Lewis & David Norman, 2006. "A Survey of Housing Equity Withdrawal and Injection in Australia," RBA Research Discussion Papers rdp2006-08, Reserve Bank of Australia.
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    Citations

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    Cited by:

    1. Ryan Fox & Peter Tulip, 2014. "Is Housing Overvalued?," RBA Research Discussion Papers rdp2014-06, Reserve Bank of Australia.
    2. Madis Aben & Merike Kukk & Karsten Staehr, 2012. "Housing Equity Withdrawal and Consumption Dynamics in Estonia 2002-2011," Research in Economics and Business: Central and Eastern Europe, Tallinn School of Economics and Business Administration, Tallinn University of Technology, vol. 4(1).
    3. Kostas Mavromaras & Neha Deo & Heath Spong & Maria Estela Varua, 2017. "The Impact of the GFC on Sectoral Market Efficiency: Non-linear Testing for the Case of Australia," The Economic Record, The Economic Society of Australia, vol. 93, pages 38-56, June.
    4. Wright, Danika & Yanotti, María B., 2019. "Home advantage: The preference for local residential real estate investment," Pacific-Basin Finance Journal, Elsevier, vol. 57(C).
    5. Dominic Crowley & Shuyun May Li, 2016. "An NPV Analysis of Buying versus Renting for Prospective Australian First Home Buyers," The Economic Record, The Economic Society of Australia, vol. 92(299), pages 606-630, December.

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