Roger Beaumont: Banking Association CEO on the rise in home loans with a quarter of new loans going to first-home buyers

Home lending is on the rise – up 17.5% in the six months to December.  The Banking Association's latest report also shows almost a quarter of new loans going to first home buyers.  Chief Executive Roger Beaumont says it's encouraging, because a few years ago they were thought to be locked out of the property market.   He told Mike Hosking that there’s been a relatively flat housing market, combined with a significant reduction in interest rates.   Beaumont says that in 2023, those on a twelve-month mortgage were paying over 7%, but today they’re paying under 5%.   LISTEN ABOVE See omnystudio.com/listener for privacy information.