Rising Property Prices Push Loan Sizes Through the Roof

Published on August 3, 2024

Climbing property prices have taken the average owner-occupier mortgage to a record high of almost $636,600 (US$414,000). The average loan size gained another 1.7 percent nationally in June, as Aug. 2nd’s Australian Bureau of Statistics (ABS) numbers show, buoyed by swelling housing values from mid-sized capitals. Dwelling prices in Brisbane, Perth, and Adelaide have been rising strongly, keeping values moving higher nationally even as real estate markets in Sydney and Melbourne weaken, CoreLogic data showed earlier this week. RateCity research director Sally Tindall said the average new mortgage for an owner-occupier had jumped by almost $154 (US$100) a day over the past 12 months....

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