Newspaper article The Chronicle (Toowoomba, Australia)

Investor Housing Finance on Downward Trend

Newspaper article The Chronicle (Toowoomba, Australia)

Investor Housing Finance on Downward Trend

Article excerpt

THE latest housing finance figures released this week by the Australian Bureau of Statistics (ABS) confirm finance approvals for investor housing are on a downward trend, according to the Real Estate Institute of Australia (REIA).

"The value of investment housing commitments decreased by 1.5 per cent in May in trend terms. This follows a fall in the previous month and is well down from its 2015 peak," REIA president Malcolm Gunning said.

"To put this in perspective it needs to remembered that the May figures are the first to show the impact of the actions by the regulators and banks to limit bank lending to dampen investor demand for property.

"Overall the figures for May 2017 show, in trend terms that the number of owner-occupied finance commitments decreased by 0.4%.

"If refinancing is excluded, in trend terms, the number of owner-occupied finance commitments increased by 0.1% and is the ninth consecutive month of increases."

In trend terms decreases were recorded in all states except the Australian Capital Territory and Tasmania with Queensland having the largest decrease of 0. …

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