Investors were keen to make the most of real estate in Norman Gardens and other parts of the country in October, as the latest figures show a rise in the number of fixed loans for investment housing.
Throughout the month, there was a 2.9 per cent rise in the value of loans when compared to September, revealed the Australian Bureau of Statistics.
While this figure relates to trend estimates, seasonally adjusted statistics indicate that the value of loans may have experienced a rise as high as 8.2 per cent between September and October.
The Real Estate Institute of Australia (REIA) offered analysis on the data, with its president Peter Bushby highlighting that investment housing commitments have now seen more than two years of consecutive monthly rises.
The REIA also believes that the all-time low cash rate of 2.5 per cent could finally be starting to stimulate the property market, giving people the push they need to invest.
As first home buyer levels are still struggling, investors may find that their rental properties are in high demand as people hold off buying their own real estate in Rockhampton.
Mr Bushby emphasised that the proportion of first-time buyers is now one of the lowest since data collection began in July 1991.
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Despite the 2020 market hitting the ground running, sales have started off low with only two sales breaking the $500k mark in the last week. Most sales, apart from a handful on the coast, failed to fetch prices higher than recent sales suggesting Rockhampton is still some way off former … Read more