SA first-home buyer loans slump – but experts say grab the chance

First-home buyers are being urged to make the most of the cooling market. Those looking to get a foot on the property ladder are being urged to make their move while there are fewer buyers to compete with. Industry experts say the cooling market means first-home buyers finally have a fighting change to secure property after years of being pushed out. Their comments come as new Loan Market data shows SA first-home buyer mortgage applications dropped 35.5 per cent between February and June, following three rate hikes and the federal budget’s changes to negative gearing and capital gains tax. Investor applications were also down 22 per cent over the same period, with activity peaking in May. New data shows first-home buyer and investor loan applications have dropped following rate hikes and the federal budget tax reforms. Furthermore, first-home buyer lodgements were down 14 per cent in June this year compared to the last two weeks of June last year, while those of investors were 10.5 per cent lower. Current lodgements were compared with those from a year ago as the year-long period considers the housing market boom through late 2025 and early 2026, prior to the rates hikes and budget...