News

Property Investor Mortgage Commitments Jump 22.9pc

By Lachelle Ferguson

Investors are continuing to gobble up more of the mortgage pie – but so are first home buyers

Australians made $32.7 billion of mortgage commitments in April, according to the Australian Bureau of Statistics. That marked a 17.3 per cent increase on the previous year.

The owner-occupier share of those commitments rose 13.6 per cent to $19.2 billion, while the investor share rose 22.9 per cent to $13.5 billion.

In terms of market share, investors climbed from 39.4 to 41.3 per cent and first home buyers from 12.3 to 15.1 per cent.

Owner-occupiers made a total of 53,951 mortgage commitments in April, which was 3.5 per cent more than the year before.

That included a 4.1 per cent increase in established home commitments, to 45,064, and a 4.2 per cent increase in new home commitments, to 2,766.

However, construction commitments declined 0.7 per cent, to 6,121.

The average mortgage grew 10.5 per cent to $357,500, while the average first home buyer mortgage jumped 11.3 per cent to $334,800.

Source: rebonline

For more information on Property Management. Investing or financing please contact  Ray White Real Estate  Narraweena 9984 7100 or Ray White Real Estate Narrabeen 9970 6777

Up to Date

Latest News

  • 6 Things To Do Before You List a Property

    1. Research & plan Before you consider selling, research the market, focusing on properties in your area. Is it a good time to sell? Where do you intend to move next? What’s your budget, including moving? You don’t need all the answers, but you should develop a clear set of goals … Read more

    Read Full Post

  • 2017 Federal Budget Highlights

    Federal Treasurer Scott Morrison’s second budget was delivered this month to Australia, with a range of changes for first home buyers, property investors and older Australians looking to downsize. Overall, the measures are designed to free up more development land and get first home buyers into the market sooner. Here … Read more

    Read Full Post