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Three months to July see rise in new home lending

By James Brown

Earlier this month, the Australian Bureau of Statistics released figures highlighting the growth of new home lending for property across the nation. As the market continues to grow and strengthen, now could be a brilliant time to consider securing your own home loan finances and looking into your Caboolture real estate options

Over the three months ending July 2014, the nation saw the number of owner-occupier home loans secured for purchasing and construction rose by 1.9 per cent. Furthermore, when compared to the same period 12 months earlier, the value of financing rose by 8.8 per cent. 

Housing Industry Association Economist Diwa Hopkins said the current market results being seen across Australia are being driven in part by the current credit landscape. For example, the retained cash rate and subsequently low interest rates have done wonders for buyer confidence, with more people able to afford to pursue their real estate goals. 

"Lending to investors constructing new homes made a strong recovery throughout the 2013/14 financial year and today's data reinforce the strength of that improvement. The value of this investment lending component in the three months to July 2014 is 10.5 per cent higher than in the same period in 2013," said Ms Hopkins in a September 9 statement. 

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