‘Crazy’ value agnostic investors continue to leverage up in an environment of poor rental growth, according to investor mortgage finance commitments released by the Australian Bureau of Statistics on Friday.
In the year to April, NSW property investors have borrowed $64.2 billion to spurge on the residential property market, another all time record.
This comes as CoreLogic RP Data also released data on Friday showing rents are now rising at their slowest annual growth on record, caused by the surge in property investment. According to the ABC, “Bureau of Statistics figures show it is 20 years since rental growth has been this low nationally.”
» 5671.0 – Lending Finance, Australia, Apr 2015 – Australian Bureau of Statistics, Friday 12th June 2015.
» Rental growth slowest on record says CoreLogic RP Data – The ABC, Friday 12th June 2015.
Posted in Australian Housing, Sydney Housing Bubble | 40 Comments »