news

Tight lending stalls home buyers

By webmaster

An increasing number of potential home buyers are reporting tight credit conditions as one of their primary impediments to purchasing property.

National Australia Bank’s latest Residential Property Survey found while concerns over interest rates are still significant, they have fallen somewhat as the previous tightening bias reduces.

“House buyers are now citing tight credit conditions, construction costs and employment security as the biggest impediments to purchasing property,” NAB’s chief economist Alan Oster said.

Moving forward, Mr Oster said he expects properties in the sub-$500,000 markets to be the strongest as owner occupiers will start to play a bigger role in underpinning demand for housing – particularly in new property markets.

According to the property survey, Australians believe capital growth in this sector will be “good”, while growth in the blue ribbon markets is only expected to be “fair”.

Tight lending stalls home buyers
SPI logo
Thank you.

Your enquiry has been sent to a local Aussie Mortgage Broker.

We will be in contact with you shortly.
Opps.

error occurred.
Unfortunately Aussie cannot attend to your home loan related enquiry at this stage as you must be a citizen or permanent resident.
Do you need help finding the right loan for your investment?
What Aussie do for you:
  • Give expert mortgage advice to help you find great investment loan deals
  • Help you maximise return by lowering financing costs
  • Save you time and effort by helping with the paperwork
First name
Last name
Location
Mobile Number
Are you an Australian Resident?
promoted stories

Top Suburbs

Highest annual price growth - click a suburb below to view full profile data:
1.
BLUE BAY 49.18%
2.
PAMBULA 43.5%
3.
BERKELEY VALE 42.74%
4.
POINT PIPER 40.52%
5.
NORTH TURRAMURRA 38.12%