New home lending has increased across the nation, which could offer wonderful opportunity for people to pursue their own property in Alawa or surrounding suburbs in the future. The rising confidence offered by these figures coupled with the low interest rates – as a result of the official cash rate – could offer a comfortable stepping stone into homeownership.
Figures released by the Australian Bureau of Statistics have revealed that lending has remained healthy across the nation, with the three months to July seeing the number of home loans sought – for owner occupier and construction combined – rising by 1.9 per cent. This represents an 8.8 per cent increase in home loan lending since the same time 12 months earlier, as the market continues in an upward trend.
Housing Industry Association economist Diwa Hopkins said the rising confidence was evident in the market, with spring traditionally posting an increase in both buyers and sellers entering into the market. Furthermore, investor activity has skyrocketed as well.
"The value of this investment lending component in the three months to July 2014 is 10.5 per cent higher than in the same period in 2013," said Ms Hopkins in a 9 September statement.