Australian mortgage demand plunges 19.2 percent as first-home buyers vanish
Mortgage demand in Australia dropped 19.2 percent year-on-year in September despite falling house prices, with first-home buyer applications plummeting 22.1 percent. Strict serviceability testing and elevated interest rates are deterring younger buyers, particularly 18-to-35-year-olds, even as property values ease. Average first-home buyer mortgages remain at record $743,000, making deposits unaffordable without family support.
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Published 15 Oct 2026, 04:26 UTC · Updated 15 Oct 2026, 04:30 UTC
Summary by OZbrief Editorial. Original report: SBS News – Australia. Editorial policy · Corrections
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