Powered by MOMENTUM MEDIA
realestatebusiness logo

Subscribe to our newsletter

Victoria records biggest mortgage decline

Activity in the mortgage market has dropped across all states, while there has been significant growth in the number of property listings, according to a report by CoreLogic RP Data.

The report revealed that mortgage market activity across Australia fell by 22.4 per cent for the month to January 25.

Victoria recorded the biggest drop in mortgage activity of all the states – down 28.1 per cent.

Western Australia’s mortgage activity fell by 24.5 per cent, while activity in South Australia dropped by 23.7 per cent and in New South Wales by 23.0 per cent.

Tasmania and Queensland also experienced a double-digit decrease in mortgage activity – down 14.2 per cent and 11.1 per cent respectively.

Advertisement
Advertisement

Meanwhile, property listing activity grew 21.0 per cent across Australia during the same period.

Queensland witnessed the biggest growth in property listings – up 32.7 per cent – while Western Australia recorded a growth of 21.2 per cent.

Property listing activity increased in South Australia by 20.0 per cent, while New South Wales experienced a 17.8 per cent rise.

Tasmania saw a 16 per cent increase in property listings, but Victoria recorded the lowest growth of all the states – up 10.5 per cent.

Victoria records biggest mortgage decline
var adTypesArray = { desktop: [4417], tablet: [4417], mobile: [4417], }; var zoneArray = [256196]; var kevelDivId = '#momentum-native2-zoneunit'; changePlacements(true, kevelDivId, adTypesArray, zoneArray, '', 'native-2-in-article');
>The report revealed that mortgage market activity across Australia fell by 22.4 per cent for the month to January 25.

Victoria recorded the biggest drop in mortgage activity of all the states – down 28.1 per cent.

Western Australia’s mortgage activity fell by 24.5 per cent, while activity in South Australia dropped by 23.7 per cent and in New South Wales by 23.0 per cent.

Tasmania and Queensland also experienced a double-digit decrease in mortgage activity – down 14.2 per cent and 11.1 per cent respectively.

Meanwhile, property listing activity grew 21.0 per cent across Australia during the same period.

Queensland witnessed the biggest growth in property listings – up 32.7 per cent – while Western Australia recorded a growth of 21.2 per cent.

Property listing activity increased in South Australia by 20.0 per cent, while New South Wales experienced a 17.8 per cent rise.

Tasmania saw a 16 per cent increase in property listings, but Victoria recorded the lowest growth of all the states – up 10.5 per cent.

Victoria records biggest mortgage decline
mortgagebusiness

Latest News

The bank has announced it is partnering with Nano to utilise its tech to offer a digital mortgage for retail customers in Q3. ...

The Reserve Bank has revealed that it weighed up three different options for the size of the first cash rate rise in almost 12 years. ...

The major bank has launched its digital home loan division, Unloan, which is a product that has a progressive interest rate discount. ...

VIEW ALL

Join Australia's most informed brokers

Do you know which lenders are providing brokers and their customers with the best service?

Use this monthly data to make informed decisions about which lenders to use. Simply contribute to the survey and we'll send you the results directly to your inbox - completely free!

What is the maximum proportion of income borrowers should use to service a mortgage?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.