Home loan market down

Home loan approvals defy an expected reduction of 1% by analysts and instead drop 1.9 %.  Investor approval is dropping faster year to date than owner occupier approvals.  It would appear than APRA measures and changes in retirement benefit allocations as well as interest rate rises and greater scrutiny of banks are having an affect.

Relatively minor changes to negative gearing may be biting too.  Additionally, a financially constrained younger generation with lowered benefits for parents, particularly single parents, should slow growth over the long term.  Contrary to popular opinion, the new money and long term power, if investors are lent to responsibly and there is intelligent welfare reform for superannuation, lies with us.

Home loan approvals fell 1.9% in April

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