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Investors are expected to take a dominant role in the market in 2010, according to Mortgage Choice’s chief executive officer Michael Russell.
Mr Russell said the company had experienced an upswing in investor interest over the past five months and expects this to gather pace heading into 2010.
“The company’s home loan approvals show that, in every state, investor demand from July through to November has either remained steady or increased by up to five percentage points,” he said.
“This, along with stronger than expected employment figures in the past three months, is most certainly a positive indicator for healthy growth in the 2010 property investment market.
“The strongest investor borrower demand is coming from the South Australia/Northern Territory areas, at 34 per cent of all our loan approvals in November, followed by Western Australia at 30 per cent, Victoria and Queensland both at 24 per cent, and New South Wales at 22 per cent.
“Overall, the percentage of home loan approvals from our property investor customers has risen from 23 per cent in July 2009 to 25 per cent in November 2009.”
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