The latest housing finance figures released by the Australian Bureau of Statistics more investors securing financing for properties, while owner occupier financing has dropped.
Investment housing commitments increased 1.6% in January, making almost three years of consecutive monthly increases.
The figures also show, in trend terms, owner-occupied finance commitments decreasing by 0.1% in January 2014, after a small December increase of 0.1%. Owner-occupied finance commitments including refinancing increased by 0.2%.
Queensland enjoyed the largest increase – still at only 0.6%. The Australian Capital Territory fell 1.6% and South Australia was unchanged.
Signs point to a robust market for investors, but a tougher climb for first home buyers, despite eight interest rate cuts since November 2011.
Venessa Paech