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Lift in Australian housing finance approvals pleasing, says expert

The Australian property market looks set to recover before the new year, according to home dealers Century 21.

Real estate organisation Century 21 has told potential buyers the property market in Australia is showing early signs of recovery in its latest newsletter.

It points to the recent Australian Bureau of Statistics (ABS) release showing that the total number of housing finance approvals increased in September, despite concerns about unstable global markets.

Although there are a variety of factors that worry potential buyers and investors, it said, the prospect of the Reserve Bank of Australia (RBA) cutting rates further after its initial 0.5 reduction in mid-November could see some green shoots in the market "before the year is out".

"Those considering a purchase would do well to explore the new housing finance options on offer as a result of the Reserve Bank's cut to the official cash rate," it added.

Yesterday (November 17th), Reed Property Group claimed property investment in Queensland has become more attractive as a result of the RBA's decision.

 

 

Posted by Steve Douglas

- property, approvals, finance, ABS, rates, interest

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