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Home Lending Rises In June

By David Bell

The figures for home lending in Australia rose again in June, in news that might interest those considering real estate in Rockhampton.

According to the Housing Industry Association (HIA), the number of loans for the construction and purchase of new homes rose by 0.6 per cent in June, 13.3 per cent higher than the same time last year.

This brings the total number of loans for construction and purchase of owner-occupied homes to 8,368 for the month.

Individually, several states saw increases in their own home lending statistics, with Queensland rising by 4.4 per cent in June. The number of housing finance commitments also rose in NSW, Victoria, South Australia, Tasmania, the Northern Territory and the ACT.

HIA senior economist Shane Garrett says the rise in home lending was driven in large part by the recent cuts to the interest rate.

"These figures indicate that a steady recovery in the new homes market is continuing, with growth in the number of loans to those purchasing new homes," Mr Garrett said in an August 7 statement.

This news could be particularly encouraging for home buyers looking at purchasing real estate in Norman Gardens, North Rockhampton or other areas of the Rockhampton region.

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