Strong ongoing sales enquiry across each of CFMG Capital's latest residential communities is supported by the latest industry data and reports of an increase in first-home buyer activity.
Official figures show that 8,573 mortgage loans were taken out by first-time buyers in June, which is the highest level in almost three years.
CFMG Capital’s trading performance across each of its communities in Victoria and South East Queensland is following a similar trend with The Millstone in Victoria now seeing 179 contracts having been exchanged (representing $28.9 million in sales value), stage 1 of Solander at Park Ridge having sold out and the recently launched communities - Oakland Pocket at Morayfield and Middleton Park at Logan Reserve - both seeing strong pre-sales enquiry from both local volume builders and local owner occupiers alike.
Treasurer Scott Morrison and the Real Estate Institute of Australia have welcomed indications of an upturn in first-home buyer activity. The total value of loan commitments to this segment of the mortgage market topped $A28.5bn in the year to June. Meanwhile, loan commitments to property investors rose by 10.5 per cent to $A152 billion in 2016-17, in seasonally-adjusted terms.
Reported by Michael Bleby in the Australian Financial Review 10 August 2017.