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New home loans fall for a thrid month

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February 11 2013, 12:13AM

National Australia Bank senior economist Spiros Papadopoulos said a further fall in the number of first home buyers applying for loans was a concern for the housing sector.

First home owners made up 14.9 per cent of those taking out loans in December, down from 15.8 per cent in November and 21.1 per cent a year ago.

"When you think about the construction side of things and the fact the RBA wants dwelling investment to start improving, a lot of that momentum would normally come from first home buyers," he said.

"It's just another sign that there is still a lot of weakness in demand for housing out there."