Property investor mortgage commitments jump 22.9pc

Property investor mortgage commitments jump 22.9pc

Property investor mortgage commitments
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Investors are continuing to gobble up more of the mortgage pie – but so are first home buyers

Australians made $32.7 billion of mortgage commitments in April, according to the Australian Bureau of Statistics. That marked a 17.3 per cent increase on the previous year.

The owner-occupier share of those commitments rose 13.6 per cent to $19.2 billion, while the investor share rose 22.9 per cent to $13.5 billion.

In terms of market share, investors climbed from 39.4 to 41.3 per cent and first home buyers from 12.3 to 15.1 per cent.

Owner-occupiers made a total of 53,951 mortgage commitments in April, which was 3.5 per cent more than the year before.

That included a 4.1 per cent increase in established home commitments, to 45,064, and a 4.2 per cent increase in new home commitments, to 2,766.

However, construction commitments declined 0.7 per cent, to 6,121.

The average mortgage grew 10.5 per cent to $357,500, while the average first home buyer mortgage jumped 11.3 per cent to $334,800.

[Related: Demand for home loans reaches six-year high]

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