An uptick in the amount of new home lending during May is a small but positive sign, an organisation has claimed.
The Housing Industry Association has welcomed the figure but claimed that large and sustained improvements are needed to really address low building levels, those looking at Australian property may be interested to discover.
Andrew Harvey, senior economist at the organisation, emphasised the importance of new home lending to the number of new properties being constructed.
He said: "Hopefully new home lending is finally dragging itself off the canvas, although we need much more than today's improvement to lift us from what is a chronically low level of new home lending."
Mr Harvey highlighted what he called a double dip in home financing activity, which could lower the availability of properties on the market but boost prices on existing houses.
Michael Yardney, writing for Australian Property Investor magazine, recently claimed that renovating existing Australian property can be a profitable way for investors to make money in the current economic climate.
Posted by Steve Douglas
The Housing Industry Association has welcomed the figure but claimed that large and sustained improvements are needed to really address low building levels, those looking at Australian property may be interested to discover.
Andrew Harvey, senior economist at the organisation, emphasised the importance of new home lending to the number of new properties being constructed.
He said: "Hopefully new home lending is finally dragging itself off the canvas, although we need much more than today's improvement to lift us from what is a chronically low level of new home lending."
Mr Harvey highlighted what he called a double dip in home financing activity, which could lower the availability of properties on the market but boost prices on existing houses.
Michael Yardney, writing for Australian Property Investor magazine, recently claimed that renovating existing Australian property can be a profitable way for investors to make money in the current economic climate.
Posted by Steve Douglas
