Interest rate concerns cloud ABS figures
The May housing finance figures from the Australian Bureau of Statistics (ABS) have provided an encouraging outlook for the housing market, tinged with just a touch of hesitation regarding future interest rate rises. The ABS figures indicate that the total value of dwelling finance commitments increased by 4.5% compared with April 2006. The number of loans for the purchase of new dwellings rose by 5.6% over the month, to sit 31% higher than the same time last year. Likewise, the number of loans for the purchase of established dwellings rose by 5% in May - a 15% increase over last year.
18 Jul, 2006