PHOTO: CoreLogic research
The latest CoreLogic Buyer Classification series shows that property investors remained active in October. The figures were possibly boosted by overseas buyers rushing to beat the foreign ban, but they nevertheless still illustrate that extra government regulations in the rental property sector aren’t scaring off landlords anytime yet.
The CoreLogic Buyer Classification figures for October are now available and multiple property owners (MPOs) have started the fourth quarter of 2018 in strong form. Indeed, MPOs buying with cash accounted for 14% of property purchases in October and MPOs with a mortgage were 24% (see the first chart, above). The combined total of 38% for MPOs was their highest monthly share for 2018 so far. And this wasn’t just a case of MPOs buying the same number of properties while other buyer groups shied away (which would naturally boost MPOs’ market share), because the raw numbers of purchases by MPOs also increased in October.
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