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Commitments for Property Finance Increase During September

By Ben Faulks

The latest data released by the Australian Bureau of Statistics (ABS) has shown a rise in housing finance commitments across the nation, which could be great news for anyone interested in buying or selling Belconnen real estate.

There was a 4.4 per cent seasonally adjusted increase in the number of commitments in Australia during September, highlighting the returning confidence to consumers and growing demand for property among buyers.

According to the Housing Industry Association (HIA), lending activity during the September quarter was also 27.5 per cent higher than the previous year.

Peter Jones, chief economist for Master Builders Australia (MBA), said the upturn was indicative of a strong housing recovery.

"There was also a solid increase of 5.2 per cent in the value of loans for investment housing in September to be up by 21.9 per cent through the year, with commitments to investors for the construction of dwellings increasing by 54.4 per cent in trend terms," said Mr Jones in a November 11 statement.

With so many people securing home loans, now could be the perfect time to list your Gungahlin real estate on the market for sale.

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