DWELLING FINANCE STILL ON THE UP

Written on the 10 August 2016

DWELLING FINANCE STILL ON THE UP

FINANCE for new dwellings and first home buyers remain positive in June, according to the latest Australian Bureau of Statistics Housing Finance figures, released today.

The total value of dweling commitments was $32.6 billion, up 2.3 per cent on the previous month, seasonally adjusted, while the trend estimate is up 0.4 per cent on the previous month.

Of the dwelling commitment value, $20.7 billion was owner occupied housing (up 1.8 per cent) and 11.8 billion was investment (up 3.2 per cent) in the seasonally adjusted figures.

Wilhelm Harnisch, CEO of Master Builders Australia says the data supports the market view that new home buyers remain confident, a state of affairs that will be boosted by this month's rate cut.

"The number of housing loans for construction of new dwellings rose by 2.1 per cent and the number to purchase new homes rose by 2.7 per cent," says Harnisch. 

"Pleasingly, the number of loans to first home buyers held up well at 14.3 per cent of total finance approved. First home buyer confidence will also be boosted by the recent rate cut.  

"The relatively high number of housing loans will translate into higher levels of approvals and, in due course new housing activity in the next few months. 



"This will ensure that the residential building sector remains a ray of sunshine in the economy, particularly in providing jobs."

Today's figures stave off concerns of a hard landing to the apartment building boom that has been ongoing in the east coast capital cities for two years. 


Latest News

COCHLEAR R&D INVESTMENT DRIVES NEW PRODUCTS AND BOOSTS PROFIT AND REVENUE

COCHLEAR (ASX: COH) has boosted its 2017 full year net profit by 18 percent to $223.6 million and has forecast furthe...

WESFARMERS BOOKS BUMPER PROFIT BUT SUPERMARKET WAR HITS COLES' BOTTOM LINE

SUPERMARKET giant Coles has posted its biggest slide in earnings since it was acquired by Wesfarmers (ASX: WES) 10 ye...

TREASURY WINES UNCORKS SWEET $269M PROFIT DESPITE INVENTORY WOES

REVEALING the fruits of its past year of labour, Treasury Wine Estates (ASX: TWE) has posted a 55 per cent increas...

TATTS GROUP POSTS PROFIT AND REVENUE DROP ON FEWER JACKPOTS AND BAD WEATHER FOR RACING

TATTS Group (ASX: TTS) has posted a full year net profit loss of 5.7 percent and a revenue decline of 8.4 per cent as...

Related News

WESFARMERS BOOKS BUMPER PROFIT BUT SUPERMARKET WAR HITS COLES' BOTTOM LINE

SUPERMARKET giant Coles has posted its biggest slide in earnings since it was acquired by Wesfarmers (ASX: WES) 10 ye...

ANALYSTS PREDICT WHAT AUSSIE LIVING IS LIKELY TO BECOME IN THE NEXT CENTURY

AS THE Australian population continues to grow, analysts are predicting what the country is likely to look like wi...

SEVEN WEST REPORTS MASSIVE LOSS AND CUTS CEO TIM WORNER'S PAY PACKET BY $450K

SEVEN West Media (ASX: SWM) has posted a full-year loss of $744.3 million and cut CEO Tim Worner's pay packet by ...

HOW MAKING MISTAKES AND PASSION SCORED WEIGHT LOSS PARTNERS A DEAL WITH SHARK TANK'S JANINE ALLIS

THEY partnered up to provide a scientific and targeted approach to dieting, and Kate Save and Geoff Draper cut Sha...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter