Buyers Responding to Rate Cuts and Market Outlook

March 24th,2014

The Real Estate Institute of Australia (REIA) says the latest housing figures released by the Australian Bureau of Statistics (ABS) show that, except for first home buyers, there are signs that buyers are being drawn back to the market by interest rate cuts and the positive outlook for housing.

Housing finance figures for March 2013 show, in trend terms, that the number of owner-occupied finance commitments rose by 0.7 per cent – following increases of 0.2 per cent and 0.5 per cent in January and February respectively.