Investors are taking advantage of weaker housing markets, borrowing more than at any time in the past two and a half years, while first home buyers struggle with sustained high borrowing costs, new official figures show.
New investor home loan commitments rose 1.4 per cent to $11.7 billion in August – the most since January 2022, when the cash rate was 0.1 per cent – as new borrowing by first-time buyers slipped less than half a percentage point to $5.3 billion, the Australian Bureau of Statistics said on Friday.
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Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Michael is based in Melbourne. Connect with Michael on Twitter. Email Michael at mbleby@afr.com
