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Australia’s property investor borrowing rises at fastest rate in a decade - despite interest rate rises

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Property investor borrowing rose at its fastest rate in a decade in March, according to the Reserve Bank, despite higher interest rates and speculation about property tax changes . Owner-occupier loan growth slowed under the weight of growing mortgage costs but investor lending is continuing its record surge. Bank loans to Australian investors grew by $42bn in the year to March, a 9.6% increase and the fastest rate since September 2015, according to the central bank’s statistics. Alannah Comer and her partner were among thousands of Australians who haven taken out investment loans. The Sydney-based couple bought on the city’s northern outskirts in December. “We just thought, why wait?” Comer said.…

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