The share of investment loans in total home loans reached their lowest level since 2002, but that did not prevent average median prices from increasing during the quarter September, according to the Real Estate Institute of Australia (REIA).
For the quarter, the weighted average median home price for the eight capitals rose to $ 743,776, driven by the larger real estate markets of Sydney and Melbourne. All the other capitals saw a drop in the average median house price.
Read also: Positive investors on price growth
The median average price of the units also increased, reaching $ 577,135 during the quarter. Sydney, Melbourne, Adelaide and Hobart reported increases in this segment.
This has happened despite investment loans reaching its lowest share of overall housing finance since 2002.
Currently, investment loans represent 25.6% of total home loans, which is considerably lower than the average of 34.4% and the peak of 43%.
In terms of rent, most capitals recorded stable gains for three-bedroom houses, only Canberra and Darwin recording decreases. For two-bedroom homes, only Sydney reported a decrease in the median rent.
The vacancy rate in capitals averaged 2.5%, indicating a slight tightening of the market.
"Just as the last period of stable rent can be attributed to the increase in investor activity around 2017, the more recent decline in investor activity will lead to an increase in rents in the future, with a current drop in the vacancy rate, an indicator of that, "said REIA President Adrian Kelly.
Main suburbs:
coolbellup
,
Willoughby east
,
spring wood
,
fresh water
,
north epping
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