Melbourne housing market recovering but apartments lagging
Consecutive dwelling value gains boosted by improving access to housing finance are all positive signs for Melbourne real estate although the apartment market has a struggle ahead, says Sam Tamblyn Urban Property Australia.
Housing finance figures released by the Australian Bureau of Statistics show the number of loans for housing has continued to decline over the last eight months, according to the Real Estate Institute of Australia (REIA).
Investor borrowing moderating, even before latest tightening measures
Housing lending to property investors softened in March, says Malcolm Gunning, president of the REIA, even before regulators and banks tightened lending to investors and before budget initiatives aimed at property investment were announced.
The number of construction loans and loans to households purchasing new homes is slightly below peak levels recorded in late 2015 and early 2016 and is consistent with high levels of new home building, says HIA Economist, Geordan Murray.
