HIA report suggests strong lending activity

Font size :
Data from the Housing Industry Association shows lending figures for new home building remain at a strong level, despite falling 1.4% in November 2014.

Lending was 4.6% higher last November than the same period two years ago. The same month also saw a 0.7% increase in new home loans, contributing to a 7.3% rise from the same period in 2013.

Northern Territory and Tasmania experienced the strongest increases over the 12 months to November 2014 – 64% and 14% respectively.

Increases in other parts of Australia include: Victoria (3.3%), Queensland (1.6%) and South Australia (1.7%).

New South Wales, Western Australia and the ACT all saw decreases, by 6.9%, 4.6% and 2.3%, respectively.

“The number of new home construction loans in November was 7.6% higher than a year ago. Healthily functioning housing markets should see a substantial turnover of homes in any given month,” says HIA senior economist Shane Garrett. “However, the total volume of loans for home purchase has been falling consistently over the past few months. As home prices have risen, so too have the stamp duty bills paid by ordinary home owners. Excessive taxation is hampering the efficient operation of Australia’s housing market. The issue requires immediate attention,” he added.

With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now

Mortgage News and Articles

Quirks in the QLD property market investors should be aware of Quirks in the QLD property market investors should be aware of

Interstate buyers should familiarise themselves with these quirks to avoid investment blunders Read more

CBA unveils new repayment simulator CBA unveils new repayment simulator The simulator will show customers the differences between different types of repayments ... Read more

How to tell when a housing market is cooling How to tell when a housing market is cooling You need to check clearance rates, listings, and the price gap, among other factors ... Read more

Growing demand for green apartments in Sydney Growing demand for green apartments in Sydney Both owner-occupiers and investors favour eco-friendly buildings for their energy-saving features and reduced environmental footprint ... Read more

More mortgage news and articles

Sponsored Links

Wednesday, Sep 27, 2017
Top Featured Rates
Top Bank Rates

Get help choosing the right home loan

Let us help you find the right home loan for your needs.

Tell us a bit about your circumstances:
  • Purpose of mortgage
  • Household Income
    $
  • How much do you want to borrow?
    $
  • How much deposit do you have?
    $
  • How much is your house worth?
    $
  • How much do you still owe on your mortgage?
    $
  • What type of mortgage do you have?


  • How much is your new home?
    $
  • How much do you want to borrow?
    $
  • How soon do you want a mortgage?
Next
  • First name
  • Last name
  • Where do you live?
  • Phone number

Special Offers

Related Keywords