The level of loans taken out for investment purposes surges to a new height for the second month in a row, new data has shown.
The AFG Mortgage Index revealed that in April, 33.8% of the new mortgages sold were taken by investors rather than owner-occupiers – a significant increase compared to a year ago.
Western Australia and Queensland are still driving the investor market. Around 47.9% of mortgages sold in WA went to investors, while investors took 32% of new mortgages sold in Queensland. However, it was the renewed enthusiasm among investors in NSW and Victoria which boosted the strong numbers for two consecutive months.
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