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.

Home approval growth not reflective of true market position

Staff Reporter 1 minute read

The November spike in home approvals may not reflect the true position of the market, the Australian Financial Review reported today.

The 8.9 per cent jump in national dwelling approvals has prompted words of caution from some analysts who believe the figures give a false view of the state of the market.

Chief economist with Lehman Brothers Stephen Roberts told to the Australian Financial Review that some of the homes approved reflected submissions made as far back as July – and that the combined effects of rate rises and the global credit crunch was likely to stem dwelling construction activity in 2008.

Others though have taken the news as a positive sign for the struggling housing market.

“For the first time in three years the number of approvals can finally be described as above normal… we believe there is light at the end of the tunnel for the beleaguered home building industry,” said CommSec chief equities economist Craig James.

Advertisement
Advertisement

 

Home approval growth not reflective of true market position
default
TheAdviser logo
default
more from the adviser
houseandmoneyrates ‘Don’t rush in’: Risks of new housing scheme flagged

Broker support is critical for borrowers looking to capitalise on...

speed boat ta AFG welcomes specialist lender to its panel

The aggregator has welcomed specialty asset finance lender Austra...

business handshake 2 Finsure expands third-party team, appoints new BDMs

The mortgage aggregator has announced the appointment of new busi...

FROM THE WEB