Aussie borrowers like existing dwellings

Demand for mortgages recovered in February 2016 after dropping in January according to the Australian Bureau of Statistics.

56,562 home loans were approved in February, up 1.5 per cent. Home loan demand often picks up after January.

The ABS data suggested Australian borrowers are more interested in buying established dwellings than new properties. Just 2,577 home loans were approved for the purchase of new dwellings, down 15.4 per cent.

Source: Mortgage Business