Global Power | Local Knowledge | Uniquely Personal
中文

Rise in construction loan appro...

Rise in construction loan approvals despite drop in home-owner loans

The amount of construction loans approved rose by 1.2 per cent despite a decrease in the number of loans approved for home owners.

The number of loans approved for the construction of new homes rose in December 2012, the Australian Bureau of Statistics (ABS) has reported.

 

 

 

Compared to November, the amount of loans granted for the construction of new homes rose by 1.2 per cent. This is the first time that there has been a rise in the amount of construction loans approved since July.

 

 

 

The rise in construction loans approved comes in spite of the fact that there has been a 4.4 per cent decline in the amount of homes approved to be built, according to statistics from the ABS.

 

 

 

News of improved results for those seeking construction loans comes at a time when the number of loans approved for home owners has decreased for the third month in a row. The financial commitments for owner occupied houses fell by 1.5 per cent from November to December.

 

 

 

However, there was a 1.9 per cent rise from November to December in the amount of loans approved for new homes to be bought.

 

 

 

Posted by Ravin Chatlani

 

 

 

All information provided is of a general nature only and does not take into account your personal financial circumstances or objectives. Before making a decision on the basis of this material, you need to consider, with or without the assistance of a financial adviser, whether the material is appropriate in light of your individual needs and circumstances. This information does not constitute a recommendation to invest in or take out any of the products or services provided by SMATS Services (Australia) Pty Ltd or Australasian Taxation Services Pty Ltd.

Subscribe Now