Posted: October 14th, 2013 | Author: Verity Penfold | Filed under: Australian Home Prices | Tags: Australian Home Prices, Australian Property Market, Business News, Home Loan, Mortgage, RBA, Real Estate News, Renovation Planning, Reserve Bank of Australia | Comments Off on Demand Slips for Aussie Home Loans as Buyers Exit the Market
Demand for new home loans by owner-occupiers has slipped backward for the first time this year, first home buyers are deserting the market, official figures show.
The Bureau of Statistics Housing Finance data shows that the number of new mortgages to owner occupiers dropped by 3.9 percent in August to 49,912, seasonally adjusted. The value of loans to property investors held steady.
In the three months to August, the number of loans to owner occupiers for the construction and purchase of new homes rose by 0.3 per cent and was 13.3 per cent higher than the same period in 2012.
This included a 0.2 per cent increase in the number of loans for the construction of a new dwelling during the three months to August, with lending in this segment up 3.6 per cent compared with the same period of 2012. The number of loans for the purchase of new homes was 0.6 per cent higher in the three months to August :: Read the full article »»»»
Posted: February 11th, 2013 | Author: Michael Courtenay | Filed under: Australian Home Prices, Real Estate News | Tags: Australian Property Market, Business News, Home Loan, Mortgage, RBA, Renovation Planning, Reserve Bank of Australia | 1 Comment »
Australia’s Reserve Bank – RBA – figures indicate that Australians are taking out home loans at the slowest annual pace ever recorded, suggesting that the property downturn may be far from over.
Figures from the RBA show total lending to the private sector grew 0.4 per cent in December, with the amount Australians borrowed rising by only 3.6 per cent in 2012. It’s not all doom – though mostly – the RBA data shows housing credit remains the most consistently robust category of borrowing, with a 4.5 per cent rise over the 12 months.
But, that annual housing credit growth rate is the slowest in RBA recorded history, admitedly the figures only go back to 1977.
Home lending growth of 0.3 per cent in December is also one of slowest monthly increases recorded :: Read the full article »»»»
Posted: June 11th, 2012 | Author: Marcus Dangerfield | Filed under: Business and Economy | Tags: Australian Economy, Credit, Debt, Glenn Stevens, Household Spending, RBA, Reserve Bank of Australia | 3 Comments »
Australia’s Reserve Bank chief, Glenn Stevens says Australians are too pessimistic on the state of the country’s economy, Stevens reckons that we should be much more optimistic over the nations prospects.
Speaking at the American Chamber of Commerce in Australia luncheon in South Australia, Stevens described the nations better than expected growth figures as “quite respectable”. The reserve bank chief said that changes in the world economy present challenges that can easily be overcome.
Stevens said Australia is in a good position to tackle possible world recession sparked by the debt woes facing Europe. He said that economic indicators show that Australia has handled the global financial crisis of 2008 well :: Read the full article »»»»