Lending figures point to a steady housing market

October 9th,2015

The latest housing finance figures released today by the Australian Bureau of Statistics (ABS) reflect stable lending activity.

The Real Estate Institute of Australia (REIA) says the figures for August 2015 show, in trend terms, that the number of owner-occupied finance commitments increased by 0.5 per cent. This increase is slightly down on the increase of the previous month of 0.6 per cent. If refinancing is excluded, in trend terms for August, the number of owner-occupied finance commitments increased by 1.0 per cent.

REIA President, Neville Sanders says, “increases were recorded in New South Wales, Victoria, South Australia and Tasmania with New South Wales having the largest increase 1.6 per cent. The largest decrease was recorded in the Northern Territory – down 3.7 per cent.”

“In trend terms, the number of new dwellings purchase commitments increased by 0.6 per cent while new dwelling construction decreased by 0.5 per cent and the purchase of established dwellings increased by 0.6 per cent”.