Market/Finance News Blog: New home lending increases nationwide

By the resi financial blog team, 15 September 2014

New home lending increases nationwide

The latest figures from the Australian Bureau of Statistics have highlighted the strength of the nation's property market, with the amount of new home lending increasing over the last few months. Now could be a great time to jump on the bandwagon and consider taking out a home loan to pursue your own real estate goals. 

Over the three months to July, owner occupier mortgages and construction home loans saw an increase of 1.9 per cent. This period is also up by a huge 8.8 per cent over the same time last year, highlighting the returning strength of the nation's real estate market. 

Housing Industry Association Economist Diwa Hopkins said this was an encouraging sign for the country, with an increased housing supply providing some stimulation to the nation's economy. Furthermore, with the traditionally strong spring sale season approaching fast, organising your home finances now could be a great move to make for your future. 

Ms Hopkins noted that loans to both investors and owner occupiers has risen over the financial year, showing that more people are buying and constructing property.

"Lending to investors constructing new homes made a strong recovery throughout the 2013/14 financial year and today's data reinforce the strength of that improvement. The value of this investment lending component in the three months to July 2014 is 10.5 per cent higher than in the same period in 2013," said Ms Hopkins in a September 9 statement. 

As confidence in the market continues to rise, now could be a great time to make a move into the Australian property landscape. Get in touch with a financial expert today to discuss the mortgage options available to you. 

 

Categories: construction loans, home loans, New homes