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Queensland Home Lending Commitments Increase

By Adrienne McTavish

The rate of lending commitment for new homes across Australia grew during June, which could be excellent news for anyone looking into houses for sale in Bulimba or the surrounding suburbs.

The latest Australian Bureau of Statistics (ABS) Housing Finance figures have highlighted a growth in the number of loans for construction and the purchase of new owner-occupied homes – increasing by 0.6 per cent to 8,368.

This increase indicates a 13.3 per cent growth compared with this time last year.

Queensland experienced a seasonally adjusted increase of 4.4 per cent in the number of housing finance commitments – for both new and established buildings – indicating this is a fantastic time to investigate purchasing Bulimba real estate.

Shane Garrett, senior economist for the Housing Industry Association, said in an August 7 statement that the continual growth of new home lending across the country can be attributed, in part, to the reductions in interest rates, which have been taking place since 2011.

"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," said Mr Garrett.

If you're interested in purchasing new or established houses for sale in Bulimba, get in contact with the team at Ray White Bulimba today.

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