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Canstar has announced their 2021 Innovation Excellence Awards with customer owned banking institutions excelling in the investment home loan categories. The awards come as the Australian Bureau of Statistics (ABS) confirm a record high in new loan commitments for December 2020.“Despite the financial hardships of 2020 felt across the nation, many Australians maintained stable employment through COVID-19, saving money and putting themselves in a position to buy property,” says Michael Lawrence, CEO of COBA.

“On the cusp of this trend are city-based buyers eyeing more affordable housing markets in regional areas, whether relocating for lifestyle, or buying an investment property.

“For Gen Y and millennial Australians, building equity in an investment property can provide that all-important stepping stone to the future home.”

However, investors are encouraged to research up-and-coming areas as housing markets experience an uplift. Almost half of the nation’s investors are now looking to invest either regionally or interstate, according to the 2021 Real Estate Buyer’s Agents Association of Australia (REBAA) and Property Talk Australia (PTA) Buyer Barometer survey.

“Low interest rates are important, but there’s much more to know,” says Mr Lawrence. “Customer owned banking institutions are specialists at helping customers at every step of the journey, from initial conversations to settlement of a property.

“They also know their communities. Over two-thirds of COBA members have headquarters based outside of Sydney and Melbourne. As major employers and investors in regional economies, their exceptional on-the-ground knowledge can provide a compelling point of difference for any potential investor.”

Canstar’s 2021 Outstanding Value Home Loan Awards
COBA members dominated a number of home loan categories.

  • Investment Home Lender Award winners: Greater Bank, MOVE Bank, People’s Choice Credit Union, QBank, RACQ Bank (5 of the 9 winners)
  • Investment Fixed Home Lender Award winners: Greater Bank, MOVE Bank, RACQ Bank, Teacher’s Mutual Bank (4 of the 7 winners)
  • Fixed Home Lender Award winners: Bank Australia, Greater Bank, Qudos Bank, Teachers Mutual Bank (4 of the 9 winners)