The latest housing finance figures released today by the Australian Bureau of Statistics (ABS) show a continued increase in owner occupier lending and a decline in investor activity.
The Real Estate Institute of Australia (REIA) says the figures for November 2016 show, in trend terms that the number of owner-occupied finance commitments increased by 0.8 per cent. This increase is the same as for the previous two months. If refinancing is excluded, in trend terms for November, the number of owner-occupied finance commitments increased by 0.5 per cent – the seventeenth consecutive month of increases.
REIA President, Neville Sanders said “increases were recorded in all states except Western Australia and Queensland with the Northern Territory having the largest increase of 2.9 per cent. The largest decrease was recorded in Western Australia – down 0.4 per cent.”
“In trend terms, the number of new dwellings purchase commitments increased by 0.4 per cent while new dwelling construction increased by 1.1 per cent and the purchase of established dwellings increased by 0.8 per cent.”
