{"id":20477,"date":"2019-08-08T09:28:43","date_gmt":"2019-08-07T21:28:43","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=20477"},"modified":"2019-08-08T09:28:43","modified_gmt":"2019-08-07T21:28:43","slug":"home-buyers-are-diving-back-into-the-market-as-sydney-and-melbourne-prices-stabilise","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/home-buyers-are-diving-back-into-the-market-as-sydney-and-melbourne-prices-stabilise\/","title":{"rendered":"Home buyers are diving back into the market as Sydney and Melbourne prices stabilise"},"content":{"rendered":"<p>&nbsp;<\/p>\n<p><strong>PHOTO:\u00a0<span class=\"image_source\">JIM SMITH\/AFP\/Getty Images<\/span><small>Home buyers have taken the plunge as prices have done the same<\/small><\/strong><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li><strong>As home prices begin to find a floor in Sydney and Melbourne, Australians have been borrowing more, with the latest figures showing a 1.3% jump in lending.<\/strong><\/li>\n<li><strong>Australian Bureau of Statistics director Ben Dorber said June marked the first increase in both investor and home buyer borrowing in more than a year.<\/strong><\/li>\n<li><strong>It coincides with the strongest auction clearance rates since 2017, as buyers appear to be returning to ailing property markets and prices stabilise.<\/strong><\/li>\n<\/ul>\n<p>The\u00a0<a href=\"https:\/\/www.abs.gov.au\/AUSSTATS\/abs@.nsf\/mediareleasesbyReleaseDate\/CD780691805A926CCA25839E001987B5?OpenDocument\" target=\"_blank\" rel=\"noopener\">latest figures<\/a>\u00a0from the Australian Bureau of Statistics (ABS) show Australians borrowed 1.3% more in June than they did in May, and it\u2019s being put down to the property market.<\/p>\n<p>With prices\u00a0<a href=\"https:\/\/www.businessinsider.com.au\/this-is-exactly-how-much-house-prices-are-changing-in-every-australian-capital-city-revealing-this-years-biggest-property-winners-and-losers-2019-7\" target=\"_blank\" rel=\"noopener\">plummeting in both capital cities since 2017<\/a>, the month of May saw buyers return to the market as\u00a0<a href=\"https:\/\/www.businessinsider.com.au\/sydney-melbourne-prices-auction-clearance-rates-2019-7\" target=\"_blank\" rel=\"noopener\">auction sales ticked up to their highest level in 18-months.<\/a><\/p>\n<p>\u201cConsistent with recent house price movements, the decline in new lending commitments for dwellings has slowed in recent months,\u201d ABS director of financial statistics Ben Dorber said in a statement accompanying the new numbers.<\/p>\n<p>\u201cIn June we saw rises in new lending commitments for both owner-occupier and investor dwellings for the first time in over a year.\u201d<\/p>\n<p>&nbsp;<\/p>\n<p>READ MORE VIA <a href=\"https:\/\/www.businessinsider.com.au\/home-buyers-are-diving-back-into-the-market-as-sydney-and-melbourne-prices-stabilise-2019-8\">BUSINESS INSIDER<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; PHOTO:\u00a0JIM SMITH\/AFP\/Getty ImagesHome buyers have taken the plunge as<span class=\"more-link\"><a href=\"https:\/\/propertynoise.co.nz\/au\/home-buyers-are-diving-back-into-the-market-as-sydney-and-melbourne-prices-stabilise\/\">Read More &rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":20478,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478098730,478098512,478100412,478098521,478098566,478098634,478098622,478098519,478106575,478098535,478098537,478098543,478098556,478098513,478101743,478099125,478098787,478098873,478098579,478098510,478098514,478098511,478098705,478098533,478098509,478098536,478098618,478098677],"class_list":["entry","author-data123nz","post-20477","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-auctions","tag-australia","tag-australian-bureau-of-statistics","tag-australians","tag-first-home-buyers","tag-for-sale","tag-home-buyers","tag-home-ownership","tag-house-price-movements","tag-house-prices","tag-melbourne","tag-mortgages","tag-nsw","tag-property","tag-property-correction","tag-property-crash","tag-property-for-sale","tag-property-investment","tag-property-market","tag-property-news","tag-propertynoise","tag-real-estate","tag-real-estate-agency","tag-real-estate-agent","tag-real-estate-news","tag-sydney","tag-sydney-property","tag-victoria"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - 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