First home buyers and investors are boosting demand. ANZ senior economist predicts a 6% rise in housing prices in capital cities through 2024. ABS reports a 20.4% growth in investor loans and 7.4% growth in owner-occupier loans. Undersupply expected to be a major issue in the property market.
While housing loans fell in December, strong annual growth remains. First home buyers and investors are boosting demand. 'We do expect housing prices to continue to rise by about 6 per cent in capital cities through 2024 – more in places like Brisbane, Adelaide and Perth,' ANZ senior economist Adelaide Timbrell says. 'While the value of investor and owner-occupier loans fell in the month of December, through the year growth was 20.4 per cent for investor loans and 7.
4 per cent for owner-occupier loans,' ABS head of finance statistics, Mish Tan said. 'Over the next six months the big issue in the property market will be undersupply.' 'We've got really low rental vacancy rates, we've got really weak building approvals through 2023, and what that means is that there's lots of people who need homes and not a lot of homes that are going to be for sale or for rent. As renters across the country continue to feel the pressure of an ongoing housing crisis, some Melbourne residents are finding their homes 'unliveable'. And CoreLogic's head of research, Tim Lawless, says while the
Housing Loans Annual Growth First Home Buyers Investors Housing Prices Undersupply Rental Vacancy Rates Building Approvals Housing Crisis Melbourne Residents Corelogic
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