HOUSING FINANCE RECOVERS SLIGHTLY

Written on the 8 June 2011

HOUSING FINANCE RECOVERS SLIGHTLY

THE number of owner-occupied home loans approved across the country recovered well in April after hitting a 10-year low in March, according to the latest ABS statistics.

The 47,347 loan commitments approved in April show a 4.8 per cent (seasonally adjusted) increase over March, where housing finance hit its lowest level since February 2001.

New houses under finance recorded the strongest growth at 9.4 per cent to 2038, while the purchase of established dwelling was up 5.1 per cent to 40,757.

However finance for the construction of new dwellings posted the worst figures, remaining flat at 4553, up 0.4 per cent on March.

The value of owner occupied housing under finance rose 6.3 per cent to about $13.8 billion. Finance for investment housing however dropped by 1.6 per cent to $6.04 billion.

Total housing under finance across the country equates to $19.85 billion, up 3.8 per cent on March.


Latest News

SLATER & GORDON AND MAURICE BLACKBURN SHOWDOWN IN BELLAMY'S CLASS ACTION

FIERCE rivals Slater & Gordon (ASX: SGH) and Maurice Blackburn have secured funding for class actions against Bel...

WHY VIDEO IS A "GIVEN" FOR BUSINESS

IN TODAY's digital-driven world, video is king and if used right, it can push a company's brand and brand ...

BRAMBLES TUMBLES AFTER REDUCING GUIDANCE

BRAMBLES (ASX: BXB) will miss its first-half guidance due to cost pressures at its North America business.

The com...

VILLAGE ROADSHOW PARKS HURT BY DREAMWORLD TRAGEDY

QUEENSLAND visitors to Village Roadshow (ASX: VRL) theme parks have declined 12 per cent in the wake of four deaths a...

Related News

CARSALES CEO RETIRES AS NEW COMPETITOR COX FINALISES MERGER

CARSALES will have a new CEO as it takes on a fresh challenger to its crown as the dominant online car sales portal i...

BUSINESS CONFIDENCE AT A SIX-YEAR HIGH

SMALL and medium businesses have entered 2017 with their confidence at a six-year high, building on strong gains m...

CONSUMERS PESSIMISTIC ENTERING 2017

CONSUMER confidence remains at its weakest point since April 2016, according to the latest Westpac Melbourne Institut...

RISE OF STARTUP SUPPORT PROGRAMS NOT AS ROSY AT IT SEEMS

ENTREPRENEURIAL cultivation companies in Australia are appearing quickly, but questions have been raised about whe...

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter