Business
Housing investors to pick up slack as first home buyers retreat: AFG – The Sydney Morning Herald
One of the country’s biggest mortgage brokers, AFG, is betting property investors will continue returning to the market.
Mr Bailey said the share of AFGs new lending going to property investors had risen from 21.3 per cent in the first quarter to 24.9 in the current quarter so far, but this was still well below its historical average of about 35 per cent.
Mr Bailey made the comment as AFG on Wednesday said it would take a 7 per cent stake in the neobank Volt for $15 million, and it announced Volt would supply some of AFGs white-label loans. Volt also said its next chairman would be Graham Bradley, former chair of…
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