​Loan growth for housing remains stalled

Font size :
The amount of cash flowing into Australia’s housing market has decreased for the second consecutive month, reports 9 News. 

However, an Australian Bureau of Statistics report shows that the cumulative total of $26.864 billion was still 22 per cent more than last year’s total. This indicates that an additional $4.9 billion a month flowing into the market compared with a year ago.

Home loan growth experienced declines in two consecutive months, falling 0.3 per cent in December 2013 and 0.4 per cent in January 2014. Some experts believe that these drops are indicative of a downward trend, but it’s not the case.

The most recent building approvals figures from the bureau show an increase of 7 per cent in January. 

This increase includes a 5 per cent rise in approvals for housing units in multi-family dwellings. These properties generate loan approvals after the completion of the building instead of the other way around for single-family houses.

It can be confusing to know whether to get a variable rate or fixed rate mortgage, and what features are important. That's why it's important to not only check the right rates, but make sure that you're getting the right features in your home loan. Get help choosing the right home loan

Mortgage News and Articles

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

Are property investors as rich as they appear? Are property investors as rich as they appear? A multi-property portfolio doesn’t guarantee easy millions ... Read more

Be proactive about getting a better mortgage deal Be proactive about getting a better mortgage deal Apathy could be costing you a considerable amount of money over the lifespan of your loan ... Read more

More mortgage news and articles

Sponsored Links

Wednesday, Sep 20, 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