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Construction Lending for New Homes Grows Across Nation During February

By James Brown

Now could be a great time to consider construction home loans in Caboolture, with the latest data from the Australian Bureau of Statistics highlighting the growing degree of new home lending being seen across Australia.

These figures have found a jump in the number of owner occupier loans for construction throughout the nation, rising by 0.8 per cent over February. In fact, over the three months ending February, there was a huge 7.2 per cent increase in new home construction loans approved.

Housing Industry Association Economist Diwa Hopkins said another strong aspect of the market were loans for investors constructing with the purpose of reselling. Over the three months to February, the number of these loans grew by 13.2 per cent. This could illustrate a great time for property investment across the country. 

"This strong growth in housing finance is consistent with other leading indicators of the residential construction sector, including dwelling approvals and new home sales," said Ms Hopkins in an April 9 statement. 

"A sustained increase in new home building activity which provides Australia with an appropriate supply of housing is a necessary condition for addressing the persistent problems around housing affordability." 

This could present a fantastic opportunity to pursue the construction of Caboolture real estate for you and your family in the coming months. 

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