CHRISTMAS GIFT FOR HOUSING AS LENDING FINISHES IN 2020 ON A RECORD HIGH

February 1st,2021

The December 2020 Lending to Households and Business figures released today by the Australian Bureau of Statistics show that the value of new loan commitments for housing grew for the seventh consecutive month and reached a record high, according to the Real Estate Institute of Australia (REIA).

“The seasonally adjusted value of new loan commitments for owner occupier housing rose 8.6 per cent in December and 31.2 per cent for the year. Rises were seen in six of the states and territories except South Australia and the Northern Territory, with Victorian commitments increasing by 20.1 per cent”, said Adrian Kelly, President of the Real Estate Institute of Australia.