Property Brief - September 2023

A marginal but very welcome increase in the number of home loan applications occurred during the first two months of Q3 2023. At an index value of 260, this key indicator of conditions in the property market is on par with Q3 2019, but still below the level of around 370 index points recorded in 2021. Now that the rate of inflation is coming down, there is increased likelihood of lower interest rates and this could propel the number of home loan applications higher.