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Investors flock back to property market
Investors have returned to the Australian property market, a little more than a year after regulatory interventions saw lending to the group plummet.
According to the latest Australian Bureau of Statistics Housing Finance figures, investor loans grew 4.6 per cent in August to $12.4bn on a seasonally adjusted basis. It was the largest month-on-month gain since August last year.
The growth in owner-occupier loans was far more moderate, with a 0.9 per cent gain for the month in seasonally-adjusted terms.
“We can expect some further uplift in this part of the market over the year ahead as an increasing number of the new homes currently under construction reach completion and off-the-plan purchases by investors reach settlement,” said Geordan Murray, economist Housing Industry Association.
RateCity data shows at the bottom of the market, investors can get a home loan rate below 4 per cent, which up until this year has been unheard of.
Disclaimer
This article is over two years old, last updated on November 14, 2016. While RateCity makes best efforts to update every important article regularly, the information in this piece may not be as relevant as it once was. Alternatively, please consider checking recent home loans articles.
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