For the first time since its reporting began, AFG, Australia’s largest mortgage broker, has shown that mortgage sales in WA fell every month for the first three months of the year, when compared to sales for the same three months of 2007.
This sales contraction is unprecedented in AFG’s experience: until this year, the company has never seen sales fall for more than a single month, when compared with data from a previous year.
The worst affected state was NSW, where sales declined by 18.9%, followed by Queensland (16.4%), South Australia (11.6%) and Victoria (4.9%).
» WA in “unprecedented” mortgage sales decline: AFG – WA Business News – 10th April 2008