The April 2012 Housing Finance figures released by the Australian Bureau of Statistics (ABS) shows the second consecutive monthly rise in new home lending, after figures showed a 1.2 per cent increase in financing.

 

However, the Housing Industry Association (HIA) remains unconvinced, saying the required strong market rebound is proving elusive.

 

“The number of loans for the construction or purchase of new homes increased by 2.1 per cent in April following a 3.8 per cent rise in March. Given contemporary weakness in new home construction activity, it is encouraging to see a second consecutive, albeit modest rise in this leading housing indicator,” said HIA Chief Economist, Dr Harley Dale.

 

When compared to March, the April statistics show:

  • The trend estimate for the total value of dwelling finance commitments excluding alterations and additions fell 0.2%. Owner occupied housing commitments fell 0.5%, while investment housing commitments rose 0.3%.
  • In seasonally adjusted terms, the total value of dwelling finance commitments excluding alterations and additions rose 1.2%.
  • In trend terms, the number of commitments for owner occupied housing finance fell 0.4%.
  • In trend terms, the number of commitments for the purchase of established dwellings fell 0.6%, while the number of commitments for the construction of dwellings rose 0.8% and the number of commitments for the purchase of new dwellings rose 0.8%.
  • In original terms, the number of first home buyer commitments as a percentage of total owner occupied housing finance commitments rose to 16.8% in April 2012 from 16.4% in March 2012.