Loans to buy new homes rose by more than twenty per cent in March, according to data released this week by the Australian Bureau of Statistics.
The total number of owner-occupied housing commitments rose 5.2 per cent in March 2013, seasonally adjusted.
Loans to buy new dwellings rose 21.1 per cent, while loans to build homes rose 4.6 per cent and loans to buy established dwellings rose 4.2 per cent.
Around the country, owner-occupier commitments rose in New South Wales (up 8.0 per cent), Victoria (5.2 per cent), Western Australia (4.0 per cent), Queensland (1.8 per cent), South Australia (5.3 per cent), Tasmania (4.2 per cent) and the Australian Capital Territory (3.5 per cent), while a fall of 1.6 per cent was recorded in the Northern Territory.
The total value of dwelling finance commitments excluding alterations and additions rose 4.5 per cent, seasonally adjusted.
The value of owner-occupier commitments rose 5.8 per cent in March 2013, while investment housing commitments rose 2.1 per cent.
In trend terms, the value of investment loans rose 1.4 per cent for the purchase of dwellings by individuals for rent or resale and 1.3 per cent respectively for the purchase of dwellings ‘by others’ and for the construction of dwellings for rent or resale.