SYDNEY (CU)_During the 12 months ending in August, median home prices in Australia escalated to 18.4 per cent, the fastest growth rate in more than three decades. As a result, the monthly new loan commitments of borrowers in the Trans-Tasman nation has now doubled their value from a year ago. This, along with the loss of the government’s HomeBuilder payments and other incentives usually enjoyed by first home buyers, has led to a sharp decline in mortgage loans obtained by owner occupiers and first home buyers.
Meanwhile, investors have decided to…
