Mortgage refinancing probably peaked last year at 24.2 per cent of all transactions and is unlikely to increase further as sales pick up in a recovering market, electronic conveyancing platform PEXA says.
Total property transactions, which fell to 2.06 million in the six months to June for a third straight decline, had also probably reached a trough, PEXA chief executive Glenn King said after the platform that commands an 88 per cent share of the property transaction market reported earnings.
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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
