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Builders welcome housing finance figures

ABS figures on financial commitments for the construction of dwellings has been welcomed by Master Builders Australia.
<p $$hash="8744-0"><span $$hash="8745-0">The newest figures from the Australian Bureau of Statistics (ABS) on housing finance commitments have been welcomed by Master Builders Australia.

<p $$hash="8743-0"><span $$hash="8742-0">ABS found that the amount of financial commitments taken out for the construction of new dwellings had risen in February.

<p $$hash="8747-0"><span $$hash="8746-0">Master Builders Australia was pleased with the results but said that they need to be sustained in order for it to feel confident moving forward.

<p $$hash="8749-0"><span $$hash="8748-0">Chief economist at Master Builders Australia, Peter Jones, said: “The industry needs a sustained run of positive figures to cement a recovery and allow it to really build a head of steam.”

<p $$hash="8751-0"><span $$hash="8750-0">Recent statistics suggest that activity in the construction sector is rising.

<p $$hash="8753-0"><span $$hash="8752-0">After months of decline, ABS recently reported a 3.1 per cent rise in the number of dwellings approved during February.

<p $$hash="8755-0"><span $$hash="8754-0">Some experts have suggested that this is as a result of increased confidence among consumers as there has been a lot of activity in the property market, which has driven up house prices and listings across Australia.

Posted by Craig Francis

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