Home News HIA report suggests strong lending activity

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.

Whether you are looking to buy your first home, move home, refinance, or invest in property, a mortgage broker can help. Access loans from all the major lenders, get help with paperwork – plus there is no charge for this service. Get help from a local mortgage broker

Mortgage News and Articles

House prices return to more affordable levels in mining towns House prices return to more affordable levels in mining towns

While the end of the mining boom has had a negative impact on property prices, homes in the region have become more affordable Read more

Borrowers should anticipate a possible rate hike Borrowers should anticipate a possible rate hike Some experts advise borrowers to look for a fixed loan that allows extra repayments so that they can whittle down the balance sooner ... Read more

Why choosing the right mortgage is hard for first-home buyers Why choosing the right mortgage is hard for first-home buyers Many feel overwhelmed by the sheer range of products and interest rates on offer, a new survey reveals ... Read more

Mortgage applications drop in second quarter Mortgage applications drop in second quarter This marks the “beginning” of a downward trend, says Equifax executive ... Read more

More mortgage news and articles

Sponsored Links

Wednesday, Jul 26, 2017
Top Featured Rates
Top Bank Rates

Get help choosing the right home loan

Whether you're a first homebuyer, looking to refinance, or investing, it's important to have the right loan for your needs. Just fill in a few details below and one of our trusted mortgage advisers will contact you.

A quick & easy way to find the right home loan
  • 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