Investors surging back in Brisbane, Perth and Sydney but Melbourne left out: APM
Investors are surging back into the housing market, according to Australian Property Monitors’ Dr Andrew Wilson.
He points to May ABS housing finance figures showing that the value of investor housing rose 26% over the month to the highest monthly total recorded since June 2010.
Wilson says the value of investor loans over the first five months of the year is now 7.2% higher than for the same period in 2011.
The value of investor loans approved over the first five months of the year rose 31% in Queensland and increased by 16% in WA and 6% in NSW, compared with the same period in 2011.
“Investors have surged back into the housing market,” says Wilson.
“These figures indicate increasing confidence by investors in the Sydney, Perth and Brisbane housing markets.”
However, the value of Victorian investor loans fell 3.6% over the first five months of the year, bucking the trend.
Wilson says NSW is the shining star of the investor market as it is the only state where the value of investor loans is higher than the same period in 2010, when housing markets were very active due to various government stimulus packages.
“This data certainly provides more positive data for housing markets with the realistic prospect of increased buyer activity and some house price growth in most centres over the coming months,” he adds.
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