Investment Purchases Fill The First Home Buyer Gap

Below is a statement from the REIA, regarding the latest ABS Housing Finance Figures:

The latest Australian Bureau of Statistics (ABS) Housing Finance figures present no surprises, according to the Real Estate Institute of Australia (REIA).

“As buyers have been responding to the improved affordability brought about by cuts in official interest rates since October last year, we are seeing a slowdown in the rate of growth of finance commitments,” said REIA CEO, Mr Neil Fisher.

Total finance commitments increased by 0.5 per cent in July; the lowest growth since August 2008.

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