The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
25 DAYS UNTIL OUR UNMISSABLE FLAGSHIP CONFERENCE 29-31 JULY, GOLD COAST
25 DAYS UNTIL OUR FLAGSHIP CONFERENCE 29-31 JULY, GOLD COAST
SECURE YOUR SPOTDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
FinanceStaff WriterMon 14 Nov 16

New Home Lending On A Steady Trend

l

Latest housing finance figures released by the ABS show the number of loans to households building and purchasing new homes has held steady at a relatively high level.

“The total number of construction loans and loans to households purchasing new homes has remained stable over recent months," HIA Economist, Geordan Murray said.

"The total is slightly below the peak levels reached in late 2015 and early 2016, although remaining very strong and consistent with the high level of new home building occurring."Mr Murray said there were a total of 34,428 loans to owner occupiers purchasing homes during September 2016 (excluding re-financing), which is up by 0.5 per cent on the level recorded in August.

However, it is 7.8 per cent lower than the number recorded in the same month last year.

The number of construction loans fell by 0.3 per cent in September, and was down by 3.3 per cent down on the level recorded a year ago.

"Lending activity in this part of the market reconciles quite well with indicators tracking the new home building activity," Mr Murray said.

"It is likely that the new home building cycle peaked in 2016 and that we’ll see activity moderate as we progress through 2017.

“It was also interesting to note that there has been a modest uplift in lending to investors in recent months.

"We can expect some further uplift in this part of the market over the year ahead as an increasing number of the new homes currently under construction reach completion and off-the-plan purchases by investors reach settlement.”

The number of loans for construction and purchase of new homes during the September quarter of 2016 increased compared with the previous year in Tasmania (+17.5 per cent), Northern Territory (+16.3 per cent), the Australian Capital Territory (+7.9 per cent), Queensland (+7.6 per cent), South Australia (+4.3 per cent) and Victoria (+2.0 per cent).

Lending activity fell by 2.6 per cent over this period in New South Wales, and by 18.8 per cent in Western Australia.

ResidentialAustraliaFinanceSector
AUTHOR
Staff Writer
"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
More articles by this author
ADVERTISEMENT
TOP STORIES
Exclusive

Carparking Correlation: How Parking Fees Provide Office Sector Health Check

Taryn Paris
6 Min
Molti chief Ben Teague out front of 32 Mercer Road Aramadale (rendering)
Exclusive

Buy to the Sound of Cannons: Molti’s Counter-Cyclical Move to Melbourne

Leon Della Bosca
5 Min
Exclusive

Tapping the Bunnings ‘Halo Effect’

Taryn Paris
5 Min
Exclusive

‘Construction Not a Scale Game’: Hutchinson

Phil Bartsch
9 Min
Nation's build-to-rent project Charlie Parker in Sydney's Parramatta where more projects are being located and built outside the CBD.
Exclusive

Foreign Capital Still Dominates BtR but Things are Changing

Marisa Wikramanayake
7 Min
View All >
Exclusive

Carparking Correlation: How Parking Fees Provide Office Sector Health Check

Taryn Paris
Bunnings Clyde North
Markets

Bunnings Sold On as Charter Hall Doubles Down on Retail

Leon Della Bosca
the four concept towers approved for sydney metro's parramatta precinct
Development

Rush of Approvals Sends Parramatta Skywards

Renee McKeown
Two projects of six towers, including a 47-storey build-to-rent scheme, have moved ahead as Sydney’s second CBD grows up…
LATEST
Exclusive

Carparking Correlation: How Parking Fees Provide Office Sector Health Check

Taryn Paris
6 Min
Bunnings Clyde North
Markets

Bunnings Sold On as Charter Hall Doubles Down on Retail

Leon Della Bosca
2 Min
the four concept towers approved for sydney metro's parramatta precinct
Development

Rush of Approvals Sends Parramatta Skywards

Renee McKeown
2 Min
The construction site which will one day become Newcastle Tallest Tower by Urban Property Group
Residential

Urban Property Group Reveals Newcastle Tallest Tower Plan

Renee McKeown
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/new-home-lending-steady-trend