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Investors flocked back to property markets in NSW, VIC, WA and QLD in December according to the AFG Mortgage Index, dropping the national LVR average for the month to 62.8 per cent compared with July 2007’s 65.5 per cent.
Investors accounted for one third of all loans in December, the Index revealed.
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“Consumer concerns about rising interest rates is hurting low and mid level property buyers – the people who have to borrow heavily to buy their homes, and who typically have high LVRs,” said AFG general manager of sales and operations Mark Hewitt. “As these buyers leave the market, we see LVRs fall.”
“However, the top end of the market is still relatively strong, and here people are using accumulated equity in their homes either to upgrade or to buy investment properties,” he said.
