Property investors are dominating the mortgage market
Property investors are dominating the mortgage market, new data from Australia’s leading finance aggregator, Australian Finance Group (AFG) has found as written in The Adviser.
According to AFG’s latest mortgage index, 34.1 per cent of all mortgages arranged nationally in February were for property investors – the highest percentage ever recorded by the company.
The amount of investor mortgages arranged was 25 per cent higher than the level of investment loans recorded six months ago in August 2009.
AFG’s general manager sales and operations Mark Hewitt said while investor confidence has been rising for several months, the company had not expected the level of investors in the market to be as strong as it was.
“Investors are now the driving force of the market, encouraged by rising property prices in recent months, and the longer term view that a housing shortfall will continue to underpin future price growth as well as rental yields,” Mr Hewitt said.
Sorry, the comment form is closed at this time.
Sorry, the comment form is closed at this time.