Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Borrowing activity continues to grow

Staff Reporter 1 minute read

Housing finance activity continued to pick up in February with first home buyer market share increasing again to another record level.

The total value of dwelling commitments increased by 1.3 per cent in February, seasonally adjusted, to $19.229 billion, the ABS said yesterday.

The percentage of first home buyers as a proportion of all borrowers climbed from 26.5 to 26.9 per cent – the highest level recorded since the series commenced in 1991.

The tripled first home owner grant for new homes drove financing for new dwellings particularly higher, rising by 4.2 per cent over the month to 2,364 approvals.

Rising rental yields are yet to lure investors back into the market; investor finance dropped by 2.8 per cent to $4.720 billion.

Advertisement
Advertisement

Borrowing activity continues to grow
default
TheAdviser logo
default

TODAY'S POLL

View results >

Who do you aggregate through?

Thank you for your vote, you can see the results here.

more from the adviser
court gavel ta Court rules against bank for ‘unfair’ loan terms

The Federal Court has declared a number of loan contracts entered...

APRA RBA ta RBA, APRA sing different tune on serviceability buffers

APRA chair Wayne Byres has dismissed the need for a cut to the bu...

loanapplication Remodelled FHB scheme cops backlash

From 1 July, all applications for the FHLDS will require a Notice...

FROM THE WEB