There are signs that investors are finally moving back into the property market after staying at the sidelines over the last 18 months.
The latest auction results from the Real Estate Institute of Australia (REIA) showed buyers are becoming more competitive in Sydney and Melbourne. Auction clearance rate over the weekend showed Sydney recording 76% and Melbourne at 87%.
David Airey, REIA president said the strong clearance results in these cities are an indicator of an improving property market and show that the market is not being held up by first home buyers.
"Auction results are a good indicator of underlying strength of the property market. These results show that there is competitive buying. We are seeing real change in a market that has been dominated by first homebuyers for the past 9 months. The properties that are selling at auction are generally not for first homebuyers, they are investors and second and third buyers," said Airey.
With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now
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