First-home buyers flex their muscles as investors lose their oomph

Abstract

House prices remain a major issue of the economy as once again we see prices in Sydney and Melbourne go up after significant falls. For now the market is being driven by owner-occupiers, and investors remain largely absent. That is good news for first-home buyers who are make up a greater share of buyers than at any time since the GFC. It also gives the Reserve Bank scope to cut rates again.