Victoria set to have more options for home loans customers

Thursday 07 July 2011

Article by Mozo

Aussies with a home loan secured may wish to consider looking at property in Victoria, where residential building activity is booming.

Victoria 'set to experience building boom'

Figures from the Building Commission revealed that permits for high-rise apartments were up 70 per cent to $2.9 billion in the 11 months to the end of May 2011.

Peter McDonald, acting building commissioner, commented: "Residential, which includes high rise apartments, was the standout category, with the value of building permit activity surging."

With more residential properties set to be built in Victoria, the region may be a good location to look at for those considering purchasing a home.

Inner Melbourne also experienced an increase in building permit figures during this period, rising 11 per cent.

Those who want to take out a mortgage to enable them to purchase their own abode should compare home loans before settling on a lender, according to Chris Acret, managing director of Smartline Personal Mortgage Advisers.

He told the Hills Shire Times that those who already have a loan should consider trying to get a better deal from their provider if they find an offer elsewhere with better terms.

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