Victorian Lockdown

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EXPERT INSIGHT

First homebuyers commitments hit the highest level since the Rudd stimulus of 2009 in November 2020, as Victoria rebounded strongly post-lockdown.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/fhb_commitments_jan.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="329" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/fhb_commitments_jan.jpg?itok=YCZS6Qwy" width="580"></a></figure>Owner-occupier lending is exceptionally strong in New South Wales, Queensland, and Western Australia.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/ex-refinancing_jan.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="338" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/ex-refinancing_jan.jpg?itok=NpRBYFsH" width="580"></a></figure>And, as expected, investment lending is now increasing, up by 6 per cent in November to be higher than a year ago, also driven by strength in New South Wales and Queensland. 

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/ex-refinancing_2_jan.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="328" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/ex-refinancing_2_jan.jpg?itok=1JdKns_K" width="580"></a></figure>RBA research showed that a permanent 100 basis point decline in the cash rate would likely result in a 30 per cent increase in real housing prices after about three years, which looks eminently possible from these figures, with supply-constrained markets with a concentration of investors seeing the largest effect.
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First home buyer commitments hit the highest level since the Rudd stimulus of 2009 in November 2020

Victorian Lockdown

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