AFG loans at three-year high

by Caroline Dann04 Sep 2012

AFG announced its loan processing numbers for August reached a three-year high due to increased activity over winter, it said.

It processed $3.07bn of loans, a 10% increase on July figures and the highest amount since March 2009.
General manager Mark Hewitt attributed the figures to favourable conditions in pricing and affordability.
"There is a sense that conditions for property buyers are quite positive," he said.
He added that "buyers remained relatively active during winter."
There was, however a marked difference in state performance between market segments.
WA saw the most activity for first home buyers, but the least for investors.
The reverse was true for NSW, which continues to dominate the investor market at 44.7% of loans processed in August.