NAB record 16% new homebuyers after home lending rate cut

They expect to see more home buyers re-enter the market.

The National Australia Bank’s (NAB) lending to new home buyers has jumped 16% as of April 2025 compared to February.

In Victoria, first-time home buyer activity reportedly climbed 28% as of April, followed by Western Australia (+22%) and Queensland (+21%), the Australian lender said on its website.

NAB Executive for Home Lending Denton Pugh credited the rise to NAB cutting its fixed and variable home lending rates in February.

With NAB making cuts to both its fixed and variable home lending rate, the bank is seeing more first home buyers, and home buyers more broadly re-enter the market, Pugh said.

“Despite recent rate cuts, borrowing costs remain relatively high, limiting property value increases. Slower price increases benefit first home buyers by reducing the pressure of rapidly rising house prices,” Pugh said.

The momentum could carry through winter, which is usually a quieter time with less sellers listing over the cooler months, he added.