It is clear that the property market is stable and forecasted to grow in 2015, however, who is actually buying up big?
Recent NAB surveys have shown that for every two first home buyers intending to live in their new home, there is another entering the market for the first time as an investor.
The survey released on Wednesday found that 17 percent of new homes and 18 percent of existing homes sold in the final quarter of 2014 went to owner-occupiers buying a first home. In addition, 8 percent of new homes and 9 percent of existing homes were bought by people purchasing their first home as investors. This survey is the first to identify housing market debutants.
In October last year, senior RBA officials flagged their intentions to clamp down on lending to investors who now account for 50 percent of new housing loans.
There are concerns that those first home buyers heading for the investor route could be caught in the crossfire. This is due to foreign investors who are purchasing one in 10 homes.
In Victoria alone foreign investors accounted for 32.5 percent of sales.
In 2015, house prices are expected to grow by 1.5 percent with Victoria, New South Wales and Queensland leading the charge. However, there are concerns that rising unemployment and affordability concerns could cool the market by four percent.
EXPECTATIONS FOR HOUSE PRICE GROWTH in 2015
Victoria: +2.2 pct
NSW: +1.5 pct
Queensland: +2.1 pct
South Australia and Northern Territory: flat
Western Australia: -0.2 pct