Home loan commitments fall over August... Detached housing reaches new cyclical high...
Home loans to owner-occupiers fall
The number of loans for budding homeowners (owner-occupiers) fell by 3% in August, after a 4.5% drop in July, resulting in the biggest back-to-back decline in five years.
The value of home loan cancellations was $1.38 billion in August, up 52% over the year.
"The home-building boom is clearly topping out with both NSW and Victoria posting falls in new home lending over the past four months," chief economist, Craig James said in a CommSec economic insight report.
The number of new home loans dropped by 4.2% compared to the same time last year and loans by owner-occupiers for the construction of homes
fell by 3.7%in August.
Detached housing reaches new cyclical high
The latest ABS figures for new dwelling commencements reveal a fresh peak for detached houses, said the Housing Industry Association (HIA), the voice of Australia’s residential building industry.
New home building has reached a new high over the June quarter 2016
, according to the latest ABS figures.
“New home building confirmed its number one spot in Australia’s domestic economy in 2015/16, with a healthy June quarter helping deliver a record fiscal year of 229,404 new dwelling commencements,” said the Housing Industry Association (HIA) economist, Geordan Murray.
“Given its strong multiplier impact through to many other sectors – including manufacturing and retailing – new home construction clearly delivered huge economic dividends to the Australian economy in 2015/16,” Murray said.
“The volume of new residential work done alone generated a record $58.5 billion of economic activity last financial year, before even considering the massive punch provided to other sectors of the economy.”
The number of loans for budding homeowners (owner-occupiers) fell by 3% in August, after a 4.5% drop in July, resulting in the biggest back-to-back decline in five years.
The value of home loan cancellations was $1.38 billion in August, up 52% over the year.
"The home-building boom is clearly topping out with both NSW and Victoria posting falls in new home lending over the past four months," chief economist, Craig James said in a CommSec economic insight report.
The number of new home loans dropped by 4.2% compared to the same time last year and loans by owner-occupiers for the construction of homes
fell by 3.7%in August.
Detached housing reaches new cyclical high
The latest ABS figures for new dwelling commencements reveal a fresh peak for detached houses, said the Housing Industry Association (HIA), the voice of Australia’s residential building industry.
New home building has reached a new high over the June quarter 2016
, according to the latest ABS figures.
“New home building confirmed its number one spot in Australia’s domestic economy in 2015/16, with a healthy June quarter helping deliver a record fiscal year of 229,404 new dwelling commencements,” said the Housing Industry Association (HIA) economist, Geordan Murray.
“Given its strong multiplier impact through to many other sectors – including manufacturing and retailing – new home construction clearly delivered huge economic dividends to the Australian economy in 2015/16,” Murray said.
“The volume of new residential work done alone generated a record $58.5 billion of economic activity last financial year, before even considering the massive punch provided to other sectors of the economy.”
