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Investors cautious about buying property

Investors cautious about buying property

by webmaster | August 24, 2011 | 1 minute read

Despite recent research suggesting now is a good time to invest, it seems potential investors are scared to take the plunge.

by webmaster
August 24, 2011

According to RFi’s latest Australian Mortgages Market Wrap, the total value of lending commitments (owner-occupied and investment housing) was down 0.5 per cent in year-on-year terms in June 2011.

Lending commitments for investment housing saw a large fall over the year, decreasing by 12.3 per cent between June 2010 and June 2011.

RFi director Alan Shields said the increased global uncertainty has seemingly led to a subdued appetite for credit in 2011,with investment lending commitments falling 4.4 per cent in June 2011 to $6,059m.

"When we talk to potential investors, there are fewer people than ever saying now is a good time to invest. That said, the proportion of people saying they will purchase and investment property within the next 12 months remains at long term averages - around 10 per cent," Mr Shields said.

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