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loans to owner occupiers in Australia fell 7.3% in January but those
approved to investors increased by 1.6%, according to the latest data
from the Australian Bureau of Statistics.
The number of loans to owner occupiers for the construction and purchase of new homes declined by 5.3% and the number of loans to owner occupiers buying established homes, excluding refinancing, fell by 7.9%.
‘Lending figures indicate that the investor market performed a little stronger. Lending to investors building or constructing new homes, however, was slightly weaker during the month but remained markedly stronger than this time a year ago,’ said Housing Industry Association economist, Geordan Murray.
He pointed out that these results follow the Australian Prudential Regulatory Authority’s December letter to lending institutions outlining their intention to increase the level of supervisory oversight of mortgage lending.
The letter detailed some specific areas of concern noting high LVR loans, fast growth in lending to investors, and mortgage affordability in a (future) higher interest rate environment.
‘It is too early to determine whether APRA’s communication has had an impact in January. It will be interesting to observe the lending figures over the next few months to see how lenders respond,’ explained Murray.
‘It is important that the new home building sector is not pushed back into a credit squeeze whereby a lack of readily available finance becomes an industry wide problem,’ he added.
A breakdown of the figures show that on an annual basis the total number of owner occupier loans for new housing in January 2015 increased only in Tasmania which saw a 67.3% year on year rise.
In New South Wales the number of loans fell by 3%, in Queensland by 6.9T, in the Australian Capital Territory by 9.9%, in Western Australia by 12.3%, in Victoria by 12.4%, in the Northern Territory by 17.6% and in South Australia by 23.5%.
Elite Wealth Creators have been involved in the property and finance industry for over 20 years. Our Investment Property Strategists deliver investment grade properties to the investment market and mediate between the developer and the investor. We also assist first home buyers in purchasing their first home in QLD through our house and land packages – this includes receiving $20,000 cash back towards their mortgage by buying one of our full turn-key packages.
Our service will take you through the complete process of buying positive cash flow property, including:
• educating you on positive cash flow and the ability to pay your mortgage off years in advance
• saving you thousands of dollars in interest
• supporting you in the decision on which property to buy
• assisting in the organizing of your finances, if required
• preparing you for settlement of contracts
• liaising with other professional advisers on your behalf if required.
Our Strategists specialise in delivering quality positive cash flow property and also helping investors pay off their mortgage years in advance
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1800 GO ELITE
The number of loans to owner occupiers for the construction and purchase of new homes declined by 5.3% and the number of loans to owner occupiers buying established homes, excluding refinancing, fell by 7.9%.
‘Lending figures indicate that the investor market performed a little stronger. Lending to investors building or constructing new homes, however, was slightly weaker during the month but remained markedly stronger than this time a year ago,’ said Housing Industry Association economist, Geordan Murray.
He pointed out that these results follow the Australian Prudential Regulatory Authority’s December letter to lending institutions outlining their intention to increase the level of supervisory oversight of mortgage lending.
The letter detailed some specific areas of concern noting high LVR loans, fast growth in lending to investors, and mortgage affordability in a (future) higher interest rate environment.
‘It is too early to determine whether APRA’s communication has had an impact in January. It will be interesting to observe the lending figures over the next few months to see how lenders respond,’ explained Murray.
‘It is important that the new home building sector is not pushed back into a credit squeeze whereby a lack of readily available finance becomes an industry wide problem,’ he added.
A breakdown of the figures show that on an annual basis the total number of owner occupier loans for new housing in January 2015 increased only in Tasmania which saw a 67.3% year on year rise.
In New South Wales the number of loans fell by 3%, in Queensland by 6.9T, in the Australian Capital Territory by 9.9%, in Western Australia by 12.3%, in Victoria by 12.4%, in the Northern Territory by 17.6% and in South Australia by 23.5%.
Elite Wealth Creators have been involved in the property and finance industry for over 20 years. Our Investment Property Strategists deliver investment grade properties to the investment market and mediate between the developer and the investor. We also assist first home buyers in purchasing their first home in QLD through our house and land packages – this includes receiving $20,000 cash back towards their mortgage by buying one of our full turn-key packages.
Our service will take you through the complete process of buying positive cash flow property, including:
• educating you on positive cash flow and the ability to pay your mortgage off years in advance
• saving you thousands of dollars in interest
• supporting you in the decision on which property to buy
• assisting in the organizing of your finances, if required
• preparing you for settlement of contracts
• liaising with other professional advisers on your behalf if required.
Our Strategists specialise in delivering quality positive cash flow property and also helping investors pay off their mortgage years in advance
http://www.
sales@elitewealthcreators.com
1800 GO ELITE
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