Home
  • plan
  • Invest
  • Property
  • enquire now
  • Learn
Home
DPN
  • plan
  • Invest
  • Property
  • enquire now
  • Learn

Mortgage sales soar

In a boon for brokers, mortgage sales soared 40 per cent in January 2012 in comparison to the same time last year.

TAGS

Beginner (579) / Intermediate (544) / Expert (568)

In a boon for brokers, mortgage sales soared 40 per cent in January 2012 in comparison to the same time last year.

According to the latest AFG Mortgage Index, sales in Queensland were up 80.6 per cent, 84.5 per cent in South Australia, 37.4 per cent in Western Australia, 25 per cent in Victoria and 14.5 per cent in NSW.

January also saw WA take over from NSW as the most popular state for first home buyers.

Almost one in five new mortgages in WA was arranged for first home buyers compared to 14 per cent in NSW.

Through the second half of last year, NSW led the country as the most active first home buyers market.

However NSW retains its position as the most popular state for investment, with 40.2 per cent of loans there arranged for investment purposes, compared to 36.8 per cent in Victoria, 34.9 per cent in Queensland, 32.6 per cent in Western Australia and 32.0 per cent in South Australia.

"While markets across the country have recovered from last year's natural disasters, right now we have a strong sense that borrowers are playing wait and see on rates. Will the RBA cut rates, and if so, how much of this will be passed on by lenders? It seems that we are moving to a new paradigm where there is less and less linkage between the cash rate and mortgage rates. An RBA cash rate cut will not automatically translate into improved consumer confidence," AFG's general manager of sales and operations Mark Hewitt said.

 


Follow us on Twitter for more news, tips and inspiration.
Like us on Facebook and Google+ explore our Pinterest boards.

Like this article or found it helpful? Share it!

Newsletter

Receive our articles directly to your inbox

Next article

BIS still bullish on employment, rates

Go to articles list

Programs

Work with us
Giving back
Become an affiliate
Refer a friend
Help desk
Property Management
Finance

Locations

Head office
Australia
Hong Kong
Singapore

Contacts

Toll free in Australia
P. 1300 723 318
Outside of Australia
P. +61 2 9525 2033

Social Media

Newsletter

Terms of use | Privacy policy | Guarantees

This information is provided by DPN Pty Ltd ABN: 94 630 700 186 Australian Credit Licence 514759. DPN Finance Pty Ltd is an authorised credit representative 504129 and related entity of DPN. Credit for Dream Big 100% Offset and Work Smart 100% Offset is provided by Adelaide Bank a division of Bendigo and Adelaide Bank Ltd, ABN 11 068 049 178 and Australian Credit Licence 237879. Casa Capace Operations Pty Ltd, NDIS provider number 4050038018 trading as Casa Capace.