First home buyers outgun investors again

Investors are again on the back foot in the mortgage market when it comes to the amount being borrowed.

For the first time since July last year, first home buyers have overtaken investors, borrowing $1.543 billion in April.

In comparison investors borrowed $1.519 billion in the same month, compared to $1.188 billion in the same month last year and $718 million in April 2023.

The percentage of the total borrowed by investors dropped to 20% - the lowest since June last year. However, it was only slightly down on the 20.1% they took out in April last year.