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Will you buy this spring? Investors to flood market
The majority of mortgage brokers believe there will be an increase in property investor activity this spring, according to a survey by leading mortgage broker Loan Market.
Of 217 respondents, 86 per cent believed that there would be an increase in inquiries from investors.
Loan Market Corporate Spokesman Paul Smith said that 26 per cent tipped a slight increase of up to five per cent while 20 per cent predicted a significant rise of more than 10 per cent. Fourteen per cent said there would be no increase in activity.
"There are definite signs that spring is in the air for the real estate and home finance markets," Mr Smith said.
"Spring is traditionally one of the busiest times of the year and recent home lending figures have been encouraging and point to a further increase in activity in the months ahead."
Mr Smith said despite investors showing concern about the continuing debt crisis facing Europe, brokers had seen them as a growing force in the home finance market.
"The stable interest rate environment with the cash rate remaining near historical lows and generally soft property prices have been attracting investors," he said.
"First time buyers have also been more active and some are targeting investment properties as their entry point to the property market."
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