July Housing Finance Continues COVID Rollercoaster

September 9th,2020

Following the historic fall in the value of loans in May, the July 2020 Lending to Households and Business figures released today by the Australian Bureau of Statistics show the value of new loan commitments for housing grew for the second consecutive month,  according to the Real Estate Institute of Australia (REIA).

“The seasonally adjusted value of new loan commitments for owner occupier housing rose 10.7 per cent in July and 18.5 per cent for the year with the rise seen in all states and territories except the ACT, with the largest increases in New South Wales, Victoria and Queensland,” said Adrian Kelly, President of the Real Estate Institute of Australia.