At Irwin Financial Solutions we have noticed property investor borrowing experienced a significant uptick over the past year, with Western Australia leading the charge.
November 2023 saw Australian investors securing $9.72 billion in home loans, marking an 18.0% increase compared to the previous year. This data, sourced from the Australian Bureau of Statistics, highlights a growing interest in property investment across the country.
The increase in investor borrowing varied by state, with Victoria at the lower end with a 3.5% rise and Western Australia at the forefront with an impressive 42.1% jump.
This boom in property investment could be attributed to the dual benefits investors reaped in 2023: a substantial 8.1% growth in the national median property price and an 8.3% rise in national median rent, as reported by CoreLogic.
For those considering property investment, it’s crucial to understand that outcomes with investor loans can differ greatly depending on the lender. Each financial institution offers unique loan products, sizes, and interest rates, all of which hinge on your financial standing and the specifics of the property you aim to invest in.
Talk to your broker at Irwin Financial Solutions, we take on the responsibility of navigating the market on your behalf, ensuring we pinpoint lenders that align perfectly with your individual investment goals and financial circumstances.
