HOME LOAN FINANCE DROPS
Written on the 9 March 2011
THE latest figures released by the ABS show approvals for new home loans dropped 4.5 per cent to 48,871 in January.
The seasonally adjusted figures also outline a dip in existing dwelling purchases, down 3.5 per cent to 42,326. However the biggest drop for the month was the purchase of new homes - just less than 2000, showing a 13.5 per cent deficit compared to the month of December.
Total housing finance value across Australia dropped by 5.3 per cent to $20.3 billion. The biggest individual drop was in investment housing finance, down 6.8 per cent to $6.33b.