Lending to property investors falls sharply in ‘tiny’ step towards fairer housing market in Australia, expert says
by Cait Kelly from World news | The Guardian on (#77P3E)
ABS data shows an almost 9% slump in new lending to investors after three interest rate hikes this year
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In what one economist is describing as a tiny step" toward a fairer housing market after decades of bad policy, property investors are shying away from established homes, and putting money into new builds instead, new data shows.
New lending to property investors fell sharply in the three months to June, slumping almost 9%, ABS data showed, while the number of total new home loans dropped by 5.4% in the June quarter.
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