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Australia homebuyer confidence hits lowest since 2008

Posted on 27 March 2013

Australian homebuyer confidence fell to the lowest level since 2008 as concerns about job security outweighed historically low interest rates and improved affordability, according to Genworth Financial Inc. (GNW).
The bi-annual Genworth Homebuyer Confidence Index declined to 93.4 in March from 98.4 in September, the Richmond, Virginia- based insurer, which provides lenders’ mortgage insurance in Australia, said in an e-mailed release today. The proportion of borrowers who expect to face difficulties repaying their home loans in the next year rose to 27 percent this month from 19 percent in September, it said………………………………………..Full Article: Source


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