Home Lending in June Broke NAB's Record
"We recently saw our strongest month of home lending on record in June, which is a sign of very strong demand." Said Kerr.
According to Andy Kerr, NAB home ownership executive, confidence in the housing marketing continues to improve, as shown by the amount of activity observed through mortgage applications.
"We recently saw our strongest month of home lending on record in June, which is a sign of very strong demand."Said Kerr.
The NAB home ownership executuve said while the lockdowns have brought challenges for families and businesses, there is still strong momentum in the property market.
NAB "Re-raised" Growth Forecast for Sydney Homes
NAB has revised its forecast for house prices in 2021 based on the faster-than-expected growth in prices over recent month. Sydney homesare expected toup 21.6% this year,which leads all cities in the country except Hobart (23%).
This uptrend has been mostly fuelled by lowinterest rates and strong income support, according to Alan Oster, NAB's economist.
The perfect window to get in the market might be narrowing however, as affordability constraints will likely begin to bind over the year and as mortgage rates rebound.
