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New home lending increases during the March quarter

When you're looking into the Bulimba real estate market for your new home, taking the time to consider your finances is also important. Sometimes people forget about assessing the home loan options available to them and end up missing out on dream properties because of it. 

However, if you're worried about securing financing to purchase houses for sale in Bulimba, the latest data from the Australian Bureau of Statistics could alleviate some of this fear. New home lending figures increased during the March quarter. This not only means that more people are getting loans approved, but demand for property is growing too. 

Housing Industry Economist Diwa Hopkins said that both owner occupiers and investors saw the value of lending rise over the March quarter, increasing by 3.6 per cent and 4.9 per cent respectively. 

"Following a period of fairly strong increases late last year, prices appear to be growing within a more sustainable range," said Ms Hopkins in a 13 May statement. 

"Today's data also show that capital city residential property prices increased by 1.7 per cent during the first quarter of 2014, to be 10.9 per cent higher than a year ago." 

These figures show the sustained strengthening of the market, with property becoming an integral part of the nation's overall economy in a big way. 

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