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top 10 agents

Alexander Phillips

Top 1

Year of Experience: 21

Support Staff: 3

Residential Property Listings Secured: 241

Total Value of Residential Properties Sold: $ 706,737,500

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1/10
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top suburbs

12 month growth
Manyana
70.61%
Tamarama
70.55%
Box Hill
64.95%
Goodwood
64.38%
Bawley Point
63.64%
Lennox Head
62.11%
Casuarina
62.08%
Queenstown
61.31%
Warana
60%
Cooroibah
59.43%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
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Fixed rate popularity slides

By Staff Reporter
26 November 2009 | 1 minute read

The popularity of fixed interest rate home loans in Australia has continued to fall, according to October 2009 data from Mortgage Choice.

Fixed rate loans now account for less than 3 per cent of all new loan approvals, while the demand for variable rate loans rose by two percentage points to 97 per cent for approvals.

According to Senior corporate affairs manager Kristy Sheppard, fixed rate loan demand dropped from 5 per cent of home loan approvals in September to less than 3 per cent in October, “which was unsurprising considering fixed loans can be priced up to two percentage points higher, or more, than variable loans”.

“Fixing holds little appeal to new borrowers at present,” Ms Sheppard said.

“The most popular loan types overall were basic variable, leading the way at 46 per cent of approvals, standard variable at 32 per cent, and special variable at 15 per cent.”

Fixed rate popularity slides
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Listen to other installment of the Real Estate Business Podcast
top 10 agents

Alexander Phillips

Top 1

Year of Experience: 21

Support Staff: 3

Residential Property Listings Secured: 241

Total Value of Residential Properties Sold: $ 706,737,500

VIEW COMPLETE REPORT
1/10
Do you have an industry update?

top suburbs

12 month growth
Manyana
70.61%
Tamarama
70.55%
Box Hill
64.95%
Goodwood
64.38%
Bawley Point
63.64%
Lennox Head
62.11%
Casuarina
62.08%
Queenstown
61.31%
Warana
60%
Cooroibah
59.43%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.