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  • Owner occupier activity declines again in WA

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    Owner occupier activity declines again in WA - reiwa.comThe Australian Bureau of Statistics’ (ABS) latest housing finance figures for December 2015 show owner occupier lending activity continued to increase in all states except Western Australia.

    The figures show that overall, in trend terms, the number of owner-occupied finance commitments increased by 1.1 per cent, which is consistent with the last four months.

    In contrast to the rest of the country, WA’s owner occupier activity fell by 0.3 per cent in December, following a 0.4 per cent decline in November.

    The figures also show that the value of investment housing commitments decreased by 2.4 per cent in December.

    President of the Real Estate Institute of Australia, Neville Sanders, said this was the seventh consecutive month of falling investor lending and the lowest monthly figure for the year to December 2015, showing that the increase in mortgage rates for investors and the strengthening of non-price lending terms by banks was having an impact.

    “The consistent decline in investor activity coupled with falling rental returns shows it is time to review the macro prudential measures,” Mr Sanders said.