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Mortgages spike as Aussies take advantage of cheap credit
Three rate cuts in five months are having an impact on the mortgages market,with investor demand entering positive territory for the first time in two years, official figures have shown.
Mortgages spike as Aussies take advantage of cheap credit
Three rate cuts in five months are having an impact on the mortgages market,with investor demand entering positive territory for the first time in two years, official figures have shown.

The Australian Bureau of Statistics (ABS) released its Lending Indicator data, which showed a 4.4 per cent ($19.6 billion) increase in seasonally adjusted housing loans approved in December.
The increase was driven by a 5.1 per cent ($14.2 billion) spike in the value of owner-occupied housing loans – the sharpest increase since August 2015 – and a 2.8 per cent ($5.4 billion) rise in the value of investor loan commitments.
The value of mortgage volumes increased 14 per cent in the 2019 calendar year, led by 17.9 per cent growth in the owner-occupied channel.
The December figures have also signalled the first annual increase in the value of investor loans in two years, up 4.9 per cent in the 2019 calendar year.

Commenting on the findings was Master Builders chief economist Shane Garrett who stated first home buyers were coming back into the market.
“December 2019 saw the volume of first home buyer home loans surge to their highest level since late 2009, according to ABS data out today,” Mr Garrett said.
During December, the volume of home loans to first home buyers increased by 6.2 per cent in seasonally adjusted terms to record a monthly total of 9,606. The last time a higher monthly total was recorded was exactly 10 years ago back in December 2009.
“The good news is that first home buyer activity has stepped up even further since the start of this year. The new First Home Loan Deposit Scheme is already a big success, and the official data will show more big gains for first home buyers once they are released,” Mr Garrett concluded.
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