Owner Occupies Not Responding to Rate Cuts

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 owner/occupiers are not being drawn back to the market by the interest rate cuts while investors are more responsive. Housing finance figures for February 2013 show, in trend terms, that the number of owner-occupied finance commitments fell by 0.5 per cent - the fifth consecutive monthly drop.