Hous­ing fi­nance im­proves

The Riverine Herald - Local Real Estate - - LOCALREALESTATE.COM.AU -

Aus­tralian Bureau of Sta­tis­tics hous­ing fi­nance fig­ures for Oc­to­ber show in trend terms that, fol­low­ing half a year of con­sec­u­tive de­creases, the num­ber of fi­nance com­mit­ments in­creased marginally for the sixth con­sec­u­tive month. The Oc­to­ber in­crease was 0.7 per cent. ‘‘In trend terms, in­creases were recorded in all states and ter­ri­to­ries ex­cept Vic­to­ria, the ACT and Tas­ma­nia,’’ Real Es­tate In­sti­tute of Aus­tralia pres­i­dent Pamela Ben­nett said. ‘‘NSW recorded the largest in­crease, up 1.5 per cent. ‘‘In­creases were ev­i­dent for the pur­chase of es­tab­lished dwellings (up 0.9 per cent in trend terms) and the pur­chase of new dwellings (up 0.4 per cent in trend terms), while the num­ber of com­mit­ments for the con­struc­tion of dwellings fell by 0.5 per cent in trend terms. ‘‘The up­turn in lend­ing com­mit­ments re­flects sta­bil­ity in in­ter­est rates and the hous­ing mar­ket as well as in­creased com­pe­ti­tion among lenders.’’ The num­ber of first-home buy­ers, as a per­cent­age of to­tal owner oc­cu­pied hous­ing com­mit­ments, in­creased to 17.9 per cent in Oc­to­ber, com­pared to 16.4 per cent in Septem­ber. Con­tribut­ing to the over­all in­crease in first-home buy­ers were in­creases of 23 per cent in Vic­to­ria and 17 per cent in NSW. The value of in­vest­ment hous­ing com­mit­ments was flat (in trend terms) in Oc­to­ber af­ter three months of in­creases, fol­low­ing 14 con­sec­u­tive months of falls.

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