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Australian Home Lending Increases During November 2013

By Ben Faulks

Now could be the perfect time to invest in houses for rent in Belconnen, as new home lending increased during November and could offer a great opportunity for potential investment in property across the nation.

According to data released by the Australian Bureau of Statistics (ABS), the number of owner occupier loans for new dwelling construction increased by 2.3 per cent during the month, while loans for the purchase of established property increased by 1.2 per cent.

Furthermore, the value of investment loans rose by 1.5 per cent during November, which is an indicator of the strengthening Australian property market and a sign that now could be the perfect time to consider purchasing real estate.

Shane Garrett, senior economist for the Housing Industry Association (HIA), said the expansion of the market was also a silver lining for Australia as a whole.

"There are few sectors of the economy more labour-intense than dwelling construction. The strong expansion of the sector brings the potential for greater jobs market support at this time of economic transition," said Mr Garrett in a January 13 statement.

This could present a number of opportunities for smart buyers looking into the Belconnen real estate market for an investment opportunity in the near future.

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