New loan approvals are up almost 10 per cent since autumn 2023, signalling a revival of young buyer confidence.

Data from the Australia Bureau of Statistics (ABS) has revealed that new loan commitments have seen a 9.9 per cent increase since March 2023.

Surprisingly, given the extreme cost-of-living stress that many Australians are facing, young buyers may be experiencing a restoration of market optimism.

Dan O’Loughlin, managing director of Barry Plant Pakenham, Drouin, and Berwick, said: “Confidence is definitely back in the market, particularly among first-time home buyers who are feeling more secure about their finances.”

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