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MORTGAGE broker, Mortgage Choice has recorded a growth of 34 per cent in Western Australian home loan approvals for the March quarter 2003, compared with the same period in 2002.

WA is the second fastest growing market in the nation after Queensland. Mortgage Choice figures show WA home loan approvals grew from $85.5 million in the March quarter 2002 to $114.3 million in the March quarter 2003.

The average home loan size for WA has grown almost 6.5 per cent over the past 12 months, from $156,542 for the March quarter last year to $166,642 for the corresponding period this year.

Mortgage Choice national corporate affairs manager Warren O’Rourke said the recent mining boom, affordable housing and the investment market had been the major drivers of the Western Australian property market.

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