Loans for new homes rose by 3.2 per cent in value in September 2005 for the second month in a row, according to figures released this week by the Australian Bureau of Statistics (ABS).
The seasonally adjusted total value of loans, excluding alterations and additions, was $17.664 million, a rise of 3.2 per cent, during September. Loans for owner-occupied premises totalled $12.422 million, a 3.7 per cent rise and for investment housing the figure was $5,242 million, representing a 2.1 per cent rise.
On a state-by-state basis, NSW recorded one of the most encouraging results, with owner-occupied loans up by 1,214 or 7.6 per cent, reversing a fall of 1.1 per cent in August.
As at last month, the Northern Territory led the way with a 15.7 per cent rise. South Australia recorded an increase of 8.3 per cent, Queensland 5.7 per cent, Victoria 3.9 per cent, Tasmania 3.1 per cent and the ACT 1 per cent. Only Western Australia reported a downturn in the latest figures, with a fall of 2.4 per cent after a rise of 4.2 per cent in August 2005.
