Investors are changing to owner-occupier loans
Westpac is Australia’s largest lender to property investors. In the last 12 months Westpac has reported a massive 22.7 per cent surge in owner-occupied lending while the investor loan book fell 9.5 per cent.
In November, Westpac reported a significant level of customers switching from investor to owner-occupied loans, in response to pricing and policy changes. Investment property loans have gone down from 44.5 per cent of Westpac’s Australian mortgage portfolio to 38 per cent.
Source: Mortgage Business