Value of investment loans up: ABS

Australian Bureau of Statistics data confirms what agents have been saying all year – Victorian investors are out in force.

The value of investment loans rose 23.7 per cent over the past 12 months, the government said.

The value of domestic home loans in the state also increased, by 12.3pc.

“The current tight rental market seems to be attracting investors back into residential (property),” REIV chief executive officer Enzo Raimondo said.

“The vacancy rate is very low in most parts of Melbourne and particularly low in the inner-city where only one per cent of rental properties are available”.

The industry association said metropolitan Melbourne residential vacancy fell to 1.4pc in May, 2007 (the most recent statistics available).

It was 1.7pc 12 months earlier.

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Marc Pallisco

A former property analyst and journalist, Marc is the publisher of realestatesource.com.au.

Marc Pallisco

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