Australians buying their first home are making up a bigger share of all people purchasing properties throughout the nation.
Treasury has revealed the trend – which comes as house prices continue to fall – at a Senate estimates hearing in Canberra.
“The share of first homebuyers in the market has been increasing,” the department’s Angelia Grant said on Friday.
“I don’t have the exact numbers, but it is over the last little while … it’s a fairly significant increase.”
House prices fell by 4.8 per cent nationally in 2018, according to CoreLogic data, and are expected to continue declining this year.
Treasury does not forecast changes in the prices of assets such as homes.
But Dr Grant said supply and demand factors were contributing to recent house price falls.
They include the housing supply increasing as earlier investments come to fruition and credit lenders tightening their purse strings.
Figures released last week found falling house prices contributed to a 2.1 per cent decline in the net worth of Australian households in the three months to December.
Real holding losses on land and dwellings totalled $170.8 billion.