PHOTO: Australian property market

In the week following the Coalition’s surprise election win, banks and mortgage brokers have noticed a large change in consumer attitudes towards borrowing and spending.

Commonwealth Bank has revealed the number of home loan applications have jumped to their highest levels in more than six months, with applications up 10 per cent higher compared to previous weeks.

“There’s still no urgency (for buyers),” said Century 21 Chairman Charles Tarbey.

“But buyers do need to have a look. They need to stop thinking that the crash of 50 per cent that tgoing to happenhey were talking about is going to occur.

“That clearly isn’t going to happen. Prices have already started to rise already in some areas.”