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HIA highlights finance difficulties

Securing housing finance is becoming more difficult in certain parts of Australia and for some groups.

The Housing Industry Association (HIA) has highlighted the latest figures from the Australian Bureau of Statistics concerning housing finance across the country.

According to the HIA, there is still growth in the first-home buyer market, but activity and finance availability for trade-up buyers appeared to run out of steam in the September quarter.

Furthermore, construction activity fell to its lowest level since January, although loans for the purchase of new dwellings appear to be holding up in the present market.

"It really was a mixed bag for housing finance outcomes in the month of September 2012," said HIA chief economist Dr Harley Dale. "At least some areas of finance for property are looking a little better, but a broad-based recovery is proving elusive."

Last week, HIA executive director Warwick Temby highlighted the present "patchy" state of construction activity in Queensland, with some areas reporting double digit gains over the last 12 months and others witnessing declines in activity.

Posted by Craig Francis

- property, housing, HIA, ABS

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