Home
  • plan
  • Invest
  • Property
  • enquire now
  • Learn
Home
DPN
  • plan
  • Invest
  • Property
  • enquire now
  • Learn

Housing market 'picking itself off the floor'

Home loan approvals ticked up for December, but the RBA's decision to leave rates on hold this month could hamper recovery.

TAGS

Beginner (579) / Intermediate (544) / Expert (568)

Home loan approvals ticked up for December, but the RBA's decision to leave rates on hold this month could hamper recovery.

ABS figures showed a rise in home loans for both construction and purchase of new dwellings, up 2.1%. Master Builders chief economist Peter Jones said the result was encouraging, but expressed concern that the RBA may need to move more aggressively to keep recovery on track.

"Although the two recent rate cuts in November and December will help, Master Builders believes the Reserve Bank still needs to do more to boost confidence and maintain a sustainable recovery in residential building," Jones said.

While Jones said recovery for housing finance remained weak by historical standards, but was beginning to show signs of life.

"The housing market is beginning to pick itself off the floor as the bring-forward effect of the government's boost scheme fades and first home buyers respond to lower interest rates and more affordable house prices," he said.

 


Follow us on Twitter for more news, tips and inspiration.
Like us on Facebook and Google+ explore our Pinterest boards.

Like this article or found it helpful? Share it!

Newsletter

Receive our articles directly to your inbox

Next article

Broker News Investor Signposts: week beginning 12 February 2012

Go to articles list

Programs

Work with us
Giving back
Become an affiliate
Refer a friend
Help desk
Property Management
Finance

Locations

Head office
Australia
Hong Kong
Singapore

Contacts

Toll free in Australia
P. 1300 723 318
Outside of Australia
P. +61 2 9525 2033

Social Media

Newsletter

Terms of use | Privacy policy | Guarantees

This information is provided by DPN Pty Ltd ABN: 94 630 700 186 Australian Credit Licence 514759. DPN Finance Pty Ltd is an authorised credit representative 504129 and related entity of DPN. Credit for Dream Big 100% Offset and Work Smart 100% Offset is provided by Adelaide Bank a division of Bendigo and Adelaide Bank Ltd, ABN 11 068 049 178 and Australian Credit Licence 237879. Casa Capace Operations Pty Ltd, NDIS provider number 4050038018 trading as Casa Capace.