Free Newslink Signup
Don't miss out on Australia's Top Property Investment news.
Sign up for Hotspotting's FREE newsletters!
By Terry Ryder, 26th January 2012
Australia’s mortgage market is gearing for a busier year, a new analysis by financial comparison site RateCity suggests, confirming my expectation of a stronger and brigher year in real estate.
Lower property prices, two interest rate cuts and “aggressive discounting” by lenders combine to indicate growth in 2012, RateCity says.
Confirming what I have said in a number of articles recently, RateCity says that first-home buyers have started to return to the market, with recent data showing they now comprise 20% of all mortgages for the first time in almost two years.
Damian Smith, RateCity’s CEO, says the mortgage market is finally picking up the pace. “This year the mortgage market looks set to recover from the past two years of slower growth,” he says. “While we’re yet to see the strong numbers of home buyers from five years ago, lenders are likely to see business improving this year as borrowers react to lower prices and interest rates.”
Home-buyers started to pick up towards the end of 2011, with 51,000 loans financed in November, according to Australian Bureau of Statistics data released last week.
“This is the biggest number of home loans recorded for two years,” says Smith.
ENDS
Boom Towns are locations impacted by resources activity or undergoing an economic surge from major projects such as power stations, desalination plants or wind farms. Often such developments involve ...
The National Top 10 Best Buys 2012 Each of the reports in the hotspotting.com.au stable of …
Top 10 South Australia Hotspots South Australia is no longer one of the poor relations of …
Northern Territory Market Report The Northern Territory has some of Australia’s most …
Special report: How To Identify Hotspots
Identifying locations which will out-perform the …
Cheapies with Prospects: National Top 10 It's a common complaint: I want to invest in property …
Select Your Report
The driving force of economic growth in the next five years will be new resources projects. Projects with a combined cost of $400 billion are in the pipeline, most of them still to start construction.…
This is a quarterly subscription newsletter which contains all the crucial economic, infrastructure, population and real estate details that underpin the property market.
NSW: Northern NSW, west of Grafton Some towns demand attention because they reek prosperity and civic pride. Glen Innes is such a place. And its economics prospects are set to be lifted by a number o…
New vacancy figures indicate Sydney’s vacancy rate is the highest since August 2006 – but remains below 2% and is expected to tighten from March onwards. The Real Estate Institute of NSW …
Lenders will be relying on “customer inertia” if they decide to raise their interest rates regardless of the Reserve Bank’s decisions, according to financial comparison website RateC…
It sounds like a good thing. Six of the top 10 building and population hotspots in Australia are in the Melbourne metropolitan area, with two more just outside the top 10. But what it describes is th…
©2012 hotspotting.com.au | Security Statement | Privacy Policy | Disclaimer | Delivery and Refund Policy | Contact
Your Cart