Housing Finance for July still on a roller-coaster ride: REIA
The latest ABS report shows historic falls in the value of home loans in May is followed by historical growth for the second month in a row, according to Adrian Kelly, president, REIA.
First-home buyers at highest share of market in five years
Continued weakness in housing finance numbers is leading the banks to compete for market share by lowering interest rates for both investors and owner-occupiers, says Malcolm Gunning, president of the REIA.
The value of interest-only loans approved during the September quarter dived 44.8 per cent, and were a record low as a proportion of total new mortgage lending.
APRA measures push investors out, let first-home buyers in
APRA's efforts to clamp down on investor lending are taking effect, with the latest data from the Australian Bureau of Statistics showing that as investor lending declines, first-home buyers are increasing their presence in the housing market.
This week's Dateline looked at the flood of wealth Chinese migrants are pouring into Vancouver real estate, and suggests Australia will benefit from curbing foreign investment.
