finally a land release for me .., page-3

hi there Molonski....we know there is an insatiable appetite for land....
see this extract today.....almost every second house in Vic is sold to an investor...and investors up 47%...
I just knew that GFC would send investors into the property market.....but not to this extent....
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The ABS keeps no statistics on how many properties investors are buying. But the figures imply that investors are buying almost every second house sold in Victoria.

In dollars, lending to owner-occupiers in Victoria was down 1 per cent from a year earlier, but lending to investors was up 47 per cent, from $1.4 billion in May 2009.

Melbourne has been the epicentre of the property boom, largely because it has become the hot city for rental investors.

The ABS figures show that lending to investors to buy in other states grew just 9 per cent year on year - with more than half the national growth in investor activity in Victoria.

Total lending to people buying existing homes in Victoria jumped 17 per cent in May from a year earlier, setting a new record of $4.6 billion.

http://theage.domain.com.au/rental-houses-pushing-boom-20100713-109eh.html