4130.0 - Housing Occupancy and Costs, 2017-18 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 17/07/2019   
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RECENT HOME BUYERS

Recent home buyers are defined as those households who purchased a dwelling in the three years prior to the date of their survey interview. This enables analysis on two groups of recent purchasers – those who purchased their first home (first home buyers) and those who had previously owned a home (changeover buyers). While not intended to provide a measure of the prevalence of first home buyers, the survey allows for comparative analysis of demographic and housing cost factors associated with these two groups.

In 2017–18 there were approximately 1,012,000 recent home buyers. Of these:
    • More than a third (35%) were first home buyers.
    • Almost two thirds (65%) had previously owned a home (changeover buyers).

Of the approximately 349,000 first home buyers:
    • Most (94%) owned their home with a mortgage.
    • More than half (55%) were in a household with a reference person aged under 35 years.
    • Over two thirds (69%) were either couple families with dependent children (38%) or couple only families (31%).
    • Less than a quarter (23%) of the dwellings they recently bought were new.

Graph Image for Recent Home Buyers, by age of household reference person, 2017-18

Source(s): Survey of Income and Housing



When comparing first home buyers to those recent home buyers who had previously owned their own home (changeover buyers):
    • Recent changeover buyers were less likely to purchase a flat or apartment than first home buyers (5% compared with 9%).
    • Housing costs for first home buyers with a mortgage were comparable to those for recent changeover buyers ($549 per week compared with $587).
    • First home buyers spent more of their income on housing costs than recent home buyers who had previously owned a home (21% compared to 16%).
    • The median value of dwelling for first home buyers was $500,000, compared to $645,000 for recent changeover buyers.

For more data on recent home buyers see data cube 9, available to download from the 'Downloads' tab of this product.