Expats property investments are helping to boost Australian property market prospects, according to new data.
Two in every five mortgages arranged in New South Wales (NSW) this December were for investment properties, according to AFG.
The mortgage broker also indicated that the level of investment in NSW properties was $27 million higher in December 2009 compared to 12 months earlier.
This growth from $153 million to $180 million reflects a 17 per cent rise, no doubt bolstering investor confidence in the market.
However, general manager of sales and operations at AFG Mark Hewitt added that the market remains vulnerable following three national interest rate rises.
He explained: "When you combine the effects of increasing out of cycle lending rates and tighter credit criteria with an end to the first home boost, what you get is a combination of factors that constrains confidence.
"Property investors, able to take a long term view, are hoping to ride a new upward cycle in property values."
Figures released by the firm last month indicated that the average new mortgage arranged in November reached an all-time high of $367,000.
Two in every five mortgages arranged in New South Wales (NSW) this December were for investment properties, according to AFG.
The mortgage broker also indicated that the level of investment in NSW properties was $27 million higher in December 2009 compared to 12 months earlier.
This growth from $153 million to $180 million reflects a 17 per cent rise, no doubt bolstering investor confidence in the market.
However, general manager of sales and operations at AFG Mark Hewitt added that the market remains vulnerable following three national interest rate rises.
He explained: "When you combine the effects of increasing out of cycle lending rates and tighter credit criteria with an end to the first home boost, what you get is a combination of factors that constrains confidence.
"Property investors, able to take a long term view, are hoping to ride a new upward cycle in property values."
Figures released by the firm last month indicated that the average new mortgage arranged in November reached an all-time high of $367,000.
