The number of people searching for investor loans doubled in the week after the June rate cut, compared to the week before, on comparison platform Finder.
…“The doubling of traffic is definitely a significant result there – the interesting thing will be to see whether it has any result in the market,” Finder insights manager Graham Cooke told Domain.
…“What we’ll see in six to eight to 10 weeks’ time is competition between a first-home buyer market and the investor market, in the sub-$600,000 to $750,000 market,” he said.
…Buyers’ agent Jarrod McCabe has noticed a lift in investor inquiry, but says it’s an “uptick” rather than a “flood”.
“There’s certainly talk about value for money, so are they able to pick up properties for good value at auctions,” the director of Wakelin Property Advisory said.
The best evidence we have to judge any thaw in specufestor activity is APRA’s fairly timely data, updated to May. It shows CBA and WBC rebounding their investor lending at a decent clip from low levels. While NAB and ANZ go the other way, for a net result of zero:
It is going to rise but on how fast the jury is still out.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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