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High new home lending rates illustrate market confidence

By Ben Faulks

Purchasing Belconnen real estate is a huge investment in your future, so naturally you'll want some reassurance that the decision to buy is the right one to make. One way to do this is to weigh up the general feeling towards property across the nation and get a feel for the general market trends. 

For example, now could be a great time to consider moving into your local market and looking into potential homes, as the latest data from the Australian Bureau of Statistics has highlighted increasing home lending figures from all over Australia. Over the three months to July, lending figures for owner occupiers or those looking to construct their own property rose by 1.9 per cent. 

When compared to the same three month period last year, this figure is a whopping 8.8 per cent higher. Housing Industry Association economist Diwa Hopkins said these increases are a much needed economic injection into the sector, which is beginning to pick up pace as the nation heads into spring – a traditionally strong period for property purchases and sales. 

With interest rates remaining low for the time being, now could be the perfect time to take advantage of the favourable market conditions and move into your own Belconnen property today. 

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