Owner-occupiers on the rise
Owner-occupiers are staking out a dominant position in housing markets as finance tightens for investors, according to the Property Council of Australia.
"Today’s latest ABS Housing Finance data demonstrates that owner-occupiers now have the whip hand and continue to widen the gap on investors," said Glenn Byres, Chief of Policy and Housing, Property Council of Australia.
"The scale and share of finance going to owner-occupiers has grown over the past six months - rising from 60 to 63 percent of new lending since November last year.
"Over the same period, investor lending has pulled back in response to regulatory changes and pricing signals on investor orientated loans from the banks.
"An orderly transition is underway in housing markets and owner-occupiers are the winners.
"It reinforces the case that subtle interventions in housing markets work best, rather than heavy-handed proposals like scrapping negative gearing."
Media contact: Paul Ritchie | E firstname.lastname@example.org