Investors are still missing from the property market revival

ABS owner-occupied home loan activity seasonally adjusted increased for the sixth consecutive month over November, reflecting the general housing market revival over the second half of 2019. Sydney Market Down

Owner-occupiers have clearly driven the recent surge in home buyer activity in most markets with investors still relatively subdued.

The value of lending for owner-occupied dwellings increased by 2.0% over November nationally and was 12.6% higher than recorded over November 2018.

Although investor lending outperformed owner-occupiers over November with a rise of 2.2%, the monthly total remained 3.2% lower than recorded over November 2018.

Lending to owner-occupiers over the first 11 months of 2019 was just 4.6% lower than recorded over the same period in 2018. Economic growth

However, investor lending remains 20.3% lower on the same year to date comparisons.

The national residential loan market share for investors remained at a near-record low 24.1% over November and well below the long-term average of 35.0%.

Given the usual motivating force of recent strong prices growth in the Sydney and Melbourne property markets, continued subdued activity by investors can only indicate ongoing lending restrictions by banks directed to this group.

But Why?

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Dr. Andrew Wilson

About

Dr Andrew Wilson, of www.MyHousingMarket.com.au is Australia’s leading property economist.


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