Owner Occupiers Dominate Housing Finance
The latest housing finance figures released today by the Australian Bureau of Statistics (ABS) confirm that the influence of investors on the housing market is abating.
“Despite an increase in the value of investment housing commitments in trend terms of 1.1% this follows nine months of falling investor lending in response to the increase in mortgage rates for investors and the strengthening of banks’ non-price lending terms, said REIA President Neville Sanders.”
“In the current debate on negative gearing it is worth noting that the presence of investor activity has had a positive impact on the level of rents with the March quarter CPI figures released at the end of April providing evidence that the current taxation arrangements keep rents lower than they would otherwise be.”
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