Latest NewsProperty Market Recovering Well: RatecityFriday, 14 October 2016

Financial comparison website RateCity says Australian property is racing into recovery, with the number of home loan applications rising by almost 30 per cent in the first few weeks of September.

"Lower interest rates and the first home buyer incentives have definitely helped the Australian real estate market land bank on its feet," RateCity chief executive Damian Smith said.

"Never before have we seen such a significant rise in applications for home loans at RateCity, which shows how quickly the market is changing for how we shop for financial products."

RateCity said the number of home loan applications in New South Wales grew 32 percent last month, compared with one year ago, while applications in Victoria had lifted 28 per cent.

"Northern Territory saw the biggest growth of 66 per cent and Australian Capital Territory experienced a 30 per cent rise," it said.

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