Home lending is on the rise – up 17.5% in the six months to December. 

The Banking Association's latest report also shows almost a quarter of new loans going to first home buyers. 

Chief Executive Roger Beaumont says it's encouraging, because a few years ago they were thought to be locked out of the property market.  

He told Mike Hosking that there’s been a relatively flat housing market, combined with a significant reduction in interest rates.  

Beaumont says that in 2023, those on a twelve-month mortgage were paying over 7%, but today they’re paying under 5%.  

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