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Home loans activity continues to increase, in another sign that buyer competition is growing and the property market is heating up.
The market bottomed out in February, when borrowers signed up for $22.843 billion of home loans. By September, that had risen 9.5% to $25.007 billion, according to the most recent data from the Australian Bureau of Statistics.
During that period, owner-occupier activity climbed 6.1%, while investor activity jumped 16.0%.
This time last year, most parts of the country were buyerβs markets; now, most locations are either sellerβs markets or trending in that direction. So if youβre planning to buy a property, itβs important to get a home loan pre-approval from a mortgage broker first, because vendors generally prefer buyers who have their finance in place.
Subiaco finance brokers are here to help
Interest rate rises are here, but you donβt have to fear with the right broker on your side.
The team at Sonam Capital are here to empower you through financial knowledge. Weβll take the time to get to know you and your unique situation and speak in a language you can understand, with strategies you can implement for the best possible outcomes.
Nick, Wayne and Amanda at Sonam Capital are your Subiaco finance specialists.
