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More Good News for the Property Market

Monday, June 24, 2013

Investors have increased their borrowing rate to more than $70 billion pa
for home loans - ABS

Growing confidence in the Australian property market is underlined by the
latest ABS lending figures which show a jump in borrowing activity by
investors.

Low interest rates and the expectation that interest rate will fall even
further has been a key issue that has encouraged investors to increase their
borrowings over the last year. Property investors in Australia are now
collectively borrowing on average more than $1 billion each week to purchase
investment properties.

Australians are eager to invest in properties: now - QBE
More than twice as many Australians are looking to buy in the next 12 months
compared with the number that bought in the last year.

According to QBE LMI's 2013 Mortgage Barometer report, more than 50% of
Australians believe now is a good time to buy. In addition, nearly 70% of
respondents said they intend to purchase property over the coming five years
- a significant increase on last year.

The perception that now is a good time to buy continues to exist. In 2013,
one in three think that the best time to buy is in the next six months, and
more than half believe the next 12 months is best.

This sentiment is in line with almost half of respondents' thinking that
property prices will increase strongly in the next three years, and more
than a third believing prices will be more than 10% higher in 2013.

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