Global Power | Local Knowledge | Uniquely Personal
中文

Borrower confidence up in a num...

Borrower confidence up in a number of states

The number of housing commitments is increasing around the country, although first-time buyers appear to be less active.

Property investors appear to be regaining their confidence in the market after recent figures revealed an increase in the number of financial commitments on houses in several states in the last few months of last year.

 

 

 

ABS housing figures for November showed an overall increase of 0.4 per cent on financial commitments across the country, with the Northern Territory seeing a jump of 2.1 per cent – the greatest anywhere in the country.

 

 

 

Peter Bushby, president of the Real Estate Institute of Australia, says upward trends were also evident in areas such as Victoria, Queensland, the Australian Capital Territory and Western Australia.

 

 

 

Much of the new investment appears to have come from more experienced property owners, with the number of first-time buyers in decline.

 

 

 

Typically, first-time buyers make up between 12 and 15 per cent of the market, but these figures were as low as 4.5 per cent in Queensland and 4.2 per cent in New South Wales in the month of November.

 

 

 

All information provided is of a general nature only and does not take into account your personal financial circumstances or objectives. Before making a decision on the basis of this material, you need to consider, with or without the assistance of a financial adviser, whether the material is appropriate in light of your individual needs and circumstances. This information does not constitute a recommendation to invest in or take out any of the products or services provided by SMATS Services (Australia) Pty Ltd or Australasian Taxation Services Pty Ltd.

Subscribe Now