Where Fitch got it wrong on housing

Younger Australians have found their own solution to a hot property market -- it just hasn't shown up in the stats.

A generation of first-time buyers is largely priced out of the property market, ratings agency Fitch Ratings declared last week, saying an explosion in housing investors has been at the expense of those wanting to make their inaugural entry into the market.

Official ABS figures certainly suggest first-home buyer numbers hit record lows in 2014. At the same time, investor loans in Australia now account for half of new loans.

What that data doesn’t show though is that first-time buyers are investors.

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