Market Update

First Home Buyers a Small % of Market

First home buyer numbers have decreased to 18.1% of all owner occupiers down from 26.8% in February last year, on a national scale. The average first home buyer loan size has also fallen from $290,100 in December 2008 to $282,100 currently.

Housing Loans

Home loan volumes are also declining with owner occupier housing loans falling by - 1.8% for the month of February. They are down -16.1% over the year.

Million Dollar Properties

Nationally there were 19,417 house and unit sales priced at or over one million dollars last year. This was 21 per cent lower than what was recorded in 2007.

Source RP data

What type of smoke alarm do I need?

The type of smoke alarm you need depends on the age of your home and when you purchased it:

- If you owned or had a residential rental property before 1 February 1998, you are required to fit a replaceable battery powered smoke alarm.
- If you purchased your home or residential rental property on or after 1 February 1998, your smoke alarm must be fitted within 6 months of date of purchase of the property and you are required to fit a:
- 240 volt, mains powered smoke alarm OR
- a 10 year life, non-replaceable, non-removable, permanently connected battery powered smoke alarm.
- If your home or the residential rental property was built on or after 1 January 1995, you are required to fit a 240 volt mains powered smoke alarm.