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Brighter times may lie ahead for brokers as the RBA eases its stance on rates, but Australia’s property market could also be healthier than pundits would have the industry believe.
John Flavell, NAB Broker’s head of sales, told Mortgage Business as well as a pick-up in refinancing activity there are indications that the property market “is more robust than it is being given credit for”.
“With talk of interest rate cuts, the tight rental markets across the country and the gap between the cost of servicing debt and rent diminishing, I’d expect loan volumes to pick up across the board in coming months,” he said.
Mr Flavell said economic factors as well as property market fundamentals bode well for future activity.
“There is an increase in liquidity in the market; low unemployment, pent up demand, tight supply and rising rental yields will [also] all contribute to strong volumes ahead.”
Published: 07-08-08
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