Queenslanders opt to age in place

The number of new home loans approved for owner-occupiers in Queensland has dropped sharply in May as affordability has deteriorated. Queensland and Western Australia have experienced some of the biggest falls by state since late last year says Macquarie Bank. New home loans for owner-occupiers fell by 9.5 per cent in Victoria during May, 8.9 per cent in Queensland, 7.4 per cent in NSW and 5.7 per cent in WA. South Australia fell by 5.1 per cent and Tasmania by 19 per cent. Interest rates had affected the Queensland market said a researcher from Brisbane. Capital growth would not be as strong in the next ten years as it had been in the past and many Queenslanders were opting to age in place said Michael Matusik.

Source: The Australian Financial Review