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National New Home Lending Posts Solid April Gains

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ABS housing finance figures released for April 2015 show an increase in lending for new homes to both owner occupiers and investors, according to the Housing Industry Association (HIA).

“In a positive update for new home building activity in early 2015/16, finance for new housing climbed higher across the board in the month of April this year,” commented HIA Chief Economist, Dr Harley Dale.

“In April 2015 there was a 4.3 per cent 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 per cent,” said Dr Dale.

“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.

ALSO SEE: New Home Sales Continue to Rise

“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. In April 2015 the number of trade-up buyer loans reached its highest level since prior to the GFC."ABS figures broken down by region continue to highlight wide disparities in new housing conditions. The total number of owner occupier loans for new housing increased in six out of eight states and territories in April 2015. Over the three months to April this year the seasonally adjusted estimate of new loans increased by 4.9 per cent in New South Wales, 4.7 per cent in Victoria, 3.4 per cent in Queensland, 1.6 per cent in South Australia, and 20.6 per cent in the Northern Territory. The number of loans fell over the same period in Western Australia (-4.4 per cent), Tasmania (-10.3 per cent), and the Australian Capital Territory (-8.7 per cent).


 

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Article originally posted at: https://https://theurbandeveloper.com/articles/home-lending-posts-solid-april-gains