Australians have not been deterred from investing their money in property despite the clampdown in investment lending, the latest APRA statistics reveal.
New investment loans to households surged by 20% in the June 2015 quarter, the regulator’s quarterly property exposures statistics reveal, with almost $50 billion worth of investment loans approved in the quarter.
New loans to owner-occupiers also recorded a jump in approvals, however it was not as significant as those to investors. News owner-occupied loans increased by 16%, with $55 billion loans approved over the June quarter.
The total value of investment loans on the books of Australian lenders was $518.3 billion at the end of the 2015 financial year. This represents 39% of all home loans, compared to 35.5% at the end of the 2014 financial year.
That figure puts the value of investment loans $81.1 billion above where they were in June 2014, which represents annual growth of 18.6%, almost double the 10% annual growth the regulator has set down as acceptable.
The major banks approved $33.5 billion worth of investment loans over the June 2015 quarter, a 20% increase from the March quarter. The total value of investment loans on the books of the majors at the end of the June 2015 was $437.5 billion, which represents 41% of their total residential loan book.
Whether you are looking to buy your first home, move home, refinance, or invest in property, a mortgage broker can help. Access loans from all the major lenders, get help with paperwork – plus there is no charge for this service. Get help from a local mortgage broker
Top Suburbs :
Get help with your investment property
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus and appointment is free.
We value your privacy and treat all your information seriously - you can check out