New figures from the Australian Banking Association showing that the number of deferred loans has fallen below 300,000 is positive news for property markets, according to the Real Estate Institute of Australia (REIA).
REIA President Adrian Kelly said that the data signalled a reduction of nearly 70 per cent from the peak of the pandemic, where more than 900,000 loans were deferred by Australian banks, has seen financial disaster minimised.
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REIA News – March 2021