Home loan market slows: good time to grab a bargain
First home buyers and those looking to refinance this year will benefit from the property market slump, with new figures showing home loan activity has dropped to levels not seen for a decade.
The Australian Bureau of Statistics’ (ABS) latest Housing Finance report shows that the number of home loans written in February is the lowest in a decade since February 2001, at 45,393 (seasonally adjusted). This number fell by 5.6 percent from January 2011 and by a further 7.2 percent since 12 months ago.