Investors hit record percentages

Investors hit record percentages

Posted on Monday, February 03 2014 at 2:56 PM

Australia’s largest mortgage broker has logged a record proportion of New South Wales investor loans in January 2014.

Australian Finance Group (AFG) says 53.4 per cent
of all home loans processed in NSW during the month were for investors.

This is the highest proportion of new mortgages in
the six years since the company started running its monthly Mortgage Index.

Mark Hewitt, the general manager of sales and operations
at AFG, says it’s an encouraging result.

“We’ve had a very strong start to the year, with
continuing trends of high investment activity in NSW and robust first homebuyer
activity in Western Australia.

“With most people expecting the historically low
rates to remain with us for much of the year, we’re preparing for even higher
levels of activity now that people are getting back to work from the summer

AFG also recorded an increase in the proportion of
first homebuyers with a rise from 10.2 per cent in December to 11.8 per cent in

The company says this was on the back of resurgent
Victorian and Western Australian first homebuyer markets.

AFG also says their figure shows the removal of
grants in some states is having a direct impact on first-time buyer activity.

“Elsewhere, the division between states offering
grants versus those that don’t remains stark.

“In South Australia, first homebuyers comprise 15.5
per cent of all buyers, while in Queensland this proportion is 6.5 per cent,
and NSW 3.4 per cent.”

Follow us on Twitter.

Was this article helpful? Place a link to it from your website, or share it using the button below.

Bookmark and Share

Recent articles:

Attached housing demand hits record highs

API circulation numbers continue to climb

Could a further two interest rate cuts be on the cards for 2014?

Review under way into property law

Price rises recorded in every capital city

Sydney’s newest suburb nears completion

Leave a comment







    Article source: