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Household lending on the rise

The recovery of the property market is steady with household lending having risen in the month of August.

The value of new lending commitments for owner occupier dwellings rose 1.9 per cent nationally in August.

The number of loans to owner-occupier first home buyers rose 5.2 per cent in August, the strongest rise this year.

SQM Research Louis Christopher tells Ross Greenwood many borrowers are turning to smaller lenders.

“The banks are lending, they’re very competitive if you’ve got good credit about you.

“They’re making life difficult for everyone.

“The majors in my view are failing the community in terms of what they’re actually offering in this point in time.”

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