City-by-city property outlook

Home loan activity is at historically high levels, according to the latest data from the Australian Bureau of Statistics.

Australians committed to $31.4 billion of home loans in November, which was 6.3% higher than the previous month and 33.2% higher than the previous year.

Owner-occupier borrowing was up 7.6% on the month and 17.2% on the year, while investor borrowing was up 3.8% on the month and 86.9% on the year.

Want to enter the market this year? Here are three home loan tips:

· Maximise your credit score – pay all your bills on time and reduce your credit card limit

· Get started early – it can take several weeks to get a home loan pre-approval

· Speak to a broker – brokers can compare loans and access special deals on your behalf