Have you seen any first home buyers?  First home buyers usually take on the appearance of a young male and female, could be a couple or even an individual. They appear excited and keen to look at properties on the internet and in the window, with a sparkle in their eye and a look of anticipation for the future.

The Australian Bureau of Statistics figures for August suggest that first home buyers only accounted for 11.8 per cent of all home loans financed for that period. The first home buyers have just vanished with these new figures revealing that participation is at record lows.

Governments have rolled back major incentives for first home buyers, and because of that people are now required to save more before making that purchase. But the longer they save and wait, the more the market seems to increase. And compared to 15 years ago, the average income per household to average house price has blown out of proportion.

From the point of view of an investor this is a good thing, as those first home buyers are renting and for longer periods.

So where to from here for the first home buyer?

I wish I had a crystal ball, because I have no answers and neither do some of the country’s top economic advisors.

The one thing I can say is I’m glad I’m not chasing my first home; it looks all too hard for the next generation of home buyers.