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The mortgage industry is tipped to perform strongly this year, despite reduced government stimulus and rising interest rates, according to Loan Market Group’s executive chairman Sam White.
“You can have confidence that the market’s not going to boom and it’s not going to dip and it’s going to be consistent,” Mr White said.
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“The reason for that is you are going to see a continuation of fewer properties for sale and while demand for buyers is quite strong that’s being tempered by the fact that banks are limiting credit and the government stimulus is being removed from the market place.
“Both of those factors will equal out and we will see a stable market that people will have confidence in whether they are buying or selling.”
Mr White’s comments follow recent figures by the Australian Bureau of Statistics that showed building approvals had risen by 5.9 per cent during November 2009.
