Sydney has a ‘substantially higher’ investment demand than other states

by Maya Breen20 Apr 2015
CoreLogic’s Property Pulse says ABS data continues to show very strong demand from investors across NSW.
“NSW had $5.3 billion in commitments to owner occupiers and $4.4 billion to investors over the month,” the report states.
“Excluding refinanced loans, investors comprise 59% of all new mortgage originations in the state.”
Drawing from the value of investor housing finance commitments, NSW accounted for 43.2% of all investor housing finance commitments nationally over the month.
For the remaining states, 25.2% occurred in Victoria, 15.5% in Queensland, 9.4% in Western Australia, 3.8% in South Australia, 1.4% in ACT, 0.8% in Northern Territory and 0.7% in Tasmania.
The ABS also released building activity data for the December 2014 quarter.
According to the data, over the quarter there were 48,125 dwelling commencements consisting of 28,071 houses and 19,592 units.
House commencements were down -0.9% over the quarter but 14.9% higher year on year.
Unit commencements were -22.0% lower over the quarter and -2.9% lower year-on-year.