Rise in lending for new homes and new buyers
Residential building might be in slowdown for New South Wales and Tasmania but there is a bright outlook for other states, especially Western Australia, according to figures from economic forecasters BIS Shrapnel. Financing figures may, on first glance, seem relatively flat, but this is due to an intriguing glitch in the numbers - while loans for 'off the plan' properties have not grown, lending for new homes already erected has jumped by 28%.
19 Sep, 2006