The Australian Bureau of Statistics has admitted a 26 per cent error in its first home buyer statistics, potentially adding fuel to the regulator’s concerns about investor lending.
A new reporting method, announced by the ABS last week, revealed there are 26 per cent more first home buyers in the market than had been previously claimed.
The latest housing finance figures had put the number of FHB loan commitments at 6,061 as of November 2014.
However, the revised figures put the number of commitments at 7,627, up 26 per cent.
The ABS has released an information paper detailing changes to its method of estimating loans to first home buyers.
This follows the ABS investigation of the accuracy of estimates for FHB loans.
The investigation revealed a degree of under-reporting by some lenders on loans to first home buyers. This was because some lenders were not including figures for first home…
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