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Co-founder & CEO of AllenWargent property market & hedge fund advisory.
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Co-founder & CEO of AllenWargent property advisory, offices in Brisbane (Riverside) & Sydney (Martin Place) - clients include hedge funds, resi funds, & private investors.
4 x finance/investment author - 'Get a Financial Grip: a simple plan for financial freedom’ (2012) rated Top 10 finance books by Money Magazine & Dymocks.
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Wednesday, 15 March 2017
Reflexivity in action!
Rising prices beget more buyers?
It certainly seems that way.
New South Wales investor loans burned 49 per cent higher than a year earlier in January as investors chase Sydney property prices higher.
In Victoria, investor loans were up by 35 per cent, with Melbourne dwelling prices also rising.
On the flip side, the value of investor loans in Western Australia was down by 16 per cent year-on-year.
In Darwin and the Northern Territory, meanwhile, the value of investor loans has dropped to the lowest level in a decade.
Such can be the reflexive nature of markets.
Total lending pulls back
Overall, January wasn't a particularly strong month for total lending according to the Australian Bureau of Statistics (ABS), with a decline in commercial lending in the month.
After a recent spike in November - a near record month - total lending pulled back quite sharply at the beginning of 2017.
In fact, the result for total lending at $67.6 billion was a 5-month low.
Meanwhile, investors pile into Sydney and Melbourne, fearful of changes being made to legislation.