Lending for new homes rises above $9 billion

By |
Figures from the Australian Bureau of Statistics show that total lending for construction of new houses or purchase of new property has passed $9 billion for the first time.

“In April 2015 there was a 4.3% increase in the number of owner occupier loans for construction, while the equivalent number of loans for the purchase of a new property rose by 1.6%,” Housing Industry Association (HIA) chief economist Harley Dale said.

“The April results include an increase in lending for investment in new residential dwellings which took the annual value to in excess of $9 billion for the first time ever.”

The figures also show the number of first home buyers is slowly on the increase.

“The number of first home buyer loans for owner occupiers remains low, but is running at its highest annual level in a year, although that of course excludes those first time buyers entering the investment market,” Dale said.

“In April 2015 the number of trade-up buyer loans reached its highest level since prior to the GFC.”

While the overall amount of lending has increased in Australia, it hasn’t been spread equally across the country.

Over the three months to April this year the seasonally adjusted estimate of new loans increased by 4.9% in New South Wales, 4.7% in Victoria, 3.4% in Queensland, 1.6% in South Australia, and 20.6% in the Northern Territory.

The number of loans fell over the same period in Western Australia (-4.4%), Tasmania (-10.3%), and the Australian Capital Territory (-8.7%).

Whether you are looking to buy your first home, move home, refinance, or invest in property, a mortgage broker can help. Access loans from all the major lenders, get help with paperwork – plus there is no charge for this service. Get help from a local mortgage broker

Top Suburbs : newtown , collingwood , alexandria , mortdale , wentworthville

go back

Get help with your investment property

Do you need help finding the right loan for your investment?

When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.

Just fill in a few details below and we'll then arrange for a local Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus and appointment is free.

How soon would you like a mortgage?
What is your Annual Household Income i $
Do you currently own any Investment Properties?
Do you own your own residence?
How much equity do you have in all your current properties?
First Name
Last Name
Where do you live?
What number can we reach you on?
E-mail address
We value your privacy and treat all your information seriously - you can check out our privacy policy here