New visa rules could bode well for home loans market

An increase in the uptake of home loans could be seen as a result of new visa regulations, it has been claimed.

It was announced this week that immigrants in Australia with a 410 visa will be able to work there without restriction.

Some commentators believe this could have a positive effect on the housing market and, consequently, home loans.

David Redfern, managing director of DSR Asset Management, explained this may prompt more people to settle in the country.

"This is a very exciting development," he said.

"We can see things are becoming much more relaxed – this can only be good for the property market as more people are encouraged to move there."

The firm stated Australia’s market is already strong and provides a low-risk environment for investors, who may be looking for low interest home loans.

According to the Investors Club, house prices in Sydney are expected to rise in the next two years, reaching values of $100,000.

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