But aren’t interest rates high?
Yes. But many commentators are tipping that rate rises have now peaked or are very close to the peak. That means we’re tipped to enter a period of stable or falling interest rates.
“This creates a window of opportunity for savvy investors to get in to the market before ‘the crowd’ realises interest rates have peaked, and will eventually fall,” writes Property Update.
The total value of loan approvals for investors rose 18 per cent in the year to November 2023. The value of owner-occupier loans rose 10.1 per cent in the year to November, and the number of loans rose 7.3 per cent.
This is likely a good indicator of continued strong demand.
“Loan approval are a great forward indicator of what’s ahead for our housing markets,” Property Update writes.
Data also shows the average new home loan size has reached a new high in Queensland, now coming in at $557,510.
That’s up 4.7 per cent in the year to November 2023.
Thinking 2024 is your window of opportunity to buy?