Home loan records smashed amid first homebuyer surge

Aussie housing records tumble, super tax changes are on the table, and the number of bulk billing GPs is on the rise. Here are five things you may have missed this week.

Records tumble as first homebuyers cash in on expanded Home Guarantee

First home buyers have piled back into the market after the Home Guarantee Scheme was uncapped, with the value of new loans jumping 15.5% in the December quarter. Fresh ABS figures show first home buyers borrowed $19.3 billion over the final three months of 2025 - the second-highest result on record.

Loan numbers rose 6.8% over the quarter. That's the strongest level since March 2022, but still well below the June 2009 peak of 49,499 loans when first homebuyer grants were expanded.

NSW saw the biggest rise in first home buyer activity, followed by WA and the ACT.

It wasn't just first timers. Total new home loans hit a record $108 billion for the quarter. Investors also stepped up, borrowing $43 billion (up 7.9%), another record.

However, that sentiment may change as calls for the capital gains tax discount to be scrapped are louder than ever.

The bigger story for many households is the size of the debt.

The average new owner-occupier loan climbed to a record $736,000, up $42,000 in just three months - about $457 extra borrowing each day.

In NSW, the average loan reached $873,000. WA recorded the fastest growth, rising $55,000 or 9% to $688,000.

Refinancing stayed strong too.

Even though switching numbers slipped 0.4%, borrowers moved more than $68 billion worth of loans to new lenders during the quarter as rate changes kept people checking their deals.

Super tax overhaul incoming

Labor is again trying to reshape the super system, this time pairing a tax break for low-income workers with higher taxes on very large balances.

Treasurer Jim Chalmers has introduced the Better Targeted Superannuation Concessions Bill, arguing it will make the system "fairer and more sustainable".

Under the proposal, people with super balances between $3m and $10m would pay 30% tax on earnings in that portion of their account, up from the current 15%. Balances above $10m would face a 40% rate.

About 90,000 people, or 0.3% of super account holders, would be affected.,

At the other end of the scale, the government plans to lift the income threshold for the low-income super tax offset (LISTO) from $37,000 to $45,000.

LISTO refunds the 15% tax paid on concessional super contributions so low earners are not penalised for putting money into super.

Raising the threshold would extend the benefit to an extra 1.3 million workers.

The government's previous attempt at super changes stalled after criticism that it would tax unrealised gains and was not indexed, meaning more Australians could be swept up over time. Those elements have been dropped from the new Bill.

The proposal now faces Parliament, where it is likely to trigger fresh debate over how generous super tax breaks should be and who should benefit most.

Aussie drivers stall on servicing and repairs in 2026

Nearly half of Australian drivers are putting off car servicing as household budgets tighten.

New research from iSelect found 49% of drivers have delayed a scheduled service.

About 23% are up to three months overdue, 12% are four to six months behind and 9% admit they are more than six months past the manufacturer's recommended service date.

To save money, many are ignoring smaller problems. Air-conditioning faults topped the list, followed by cracked windscreens and damaged side mirrors.

Some drivers also admitted putting off fixing worn tyres, dashboard warning lights and broken brake lights or headlights.

iSelect comparison expert Sophie Ryan says that's a risky trade-off.

"Vehicle safety is becoming another casualty of cost-of-living pressures," she says. "Issues like a cracked windscreen or faulty air-conditioning might seem minor, but they can get worse over time and cost more to repair."

Skipping a service can also have longer-term consequences.

Car makers set service intervals to catch problems early and check essentials such as tyres, fluid levels and the battery. Missing those appointments could void a new car warranty.

There's an insurance risk, too. If a car is found to be unroadworthy after an accident, an insurer may refuse a claim.

Bulk billing rates rise

Bulk-billing rates have lifted for the first time in months, following the government's $8.5 billion investment in Medicare.

New figures show the national bulk-billing rate rose to 81.4% between November and January, up from 77.6% in the previous quarter. It marks the largest quarterly rise in 20 years outside the pandemic period.

The increase follows the expansion of bulk-billing incentives to all patients from November, fulfilling a promise set out in last year's budget.

Previously, higher incentives applied mainly to children and concession card holders. Since changes in 2023, more than 90% of GP visits for those groups are bulk billed.

The government says more than 3400 practices are now registered as Medicare bulk-billing clinics, with about 1300 switching from mixed billing in recent months.

It estimates 96% of Australians live within a 20-minute drive of one, though some critics are sceptical of this number.

Health Minister Mark Butler says the shift shows incentives are working. However, some GPs remain cautious about whether payments will keep pace with rising practice costs.

Separately, the government will introduce legislation aimed at improving transparency in private healthcare.

If passed, it would require Medicare and private health insurers to upload specialist fees and out-of-pocket costs to the Medical Costs Finder website.

The Bill would also ban "phoenixing", where insurers close an existing policy and reopen a near-identical product at a higher price.

Aussies shop after dark

Late-night scrolling is turning into late-night spending for many Australians, and it's not always ending well.

New research from PayPal shows 79% of Australians have shopped online between 9pm and 5am. Nearly one in four say they do it at least monthly.

The Bedtime Browsing Report suggests fatigue is shaping what and how we buy.

About one in four late-night shoppers say they are more likely to make impulse purchases after dark. One in five spend more than planned.

Some 18% regret what they bought, while 16% have received parcels they forgot ordering.

There's also a scam risk. One in eight shoppers (12%) admit clicking a suspicious link late at night and 11% say they have landed on a fake website.

Most respondents (83%) believe tiredness makes it easier to miss red flags or small print.

Danielle Grant, consumer shopping expert at PayPal Australia, says late-night browsing has become a form of "me time" after long days, but judgment can slip when people are exhausted.

Her tip: pause before you pay.

Double-check website addresses, avoid rushing through checkout and use secure payment options. A few extra seconds could prevent an expensive mistake.

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