Just when you thought the speculator frenzy that has engulfed Sydney’s housing market couldn’t get any more crazy, today’s Lending Finance data for May, released by the ABS, has once again smashed all records, with both the value and proportion of mortgages going to New South Wales investors surging to another all time high.
As shown below, the value of investor loans in New South Wales (read Sydney) continues to rocket, with Melbourne – the second hottest market – also experiencing strong growth:
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