TRENDS IN HOUSING FINANCE CONTINUE TO RISE

Trends in housing finance show the continued rise of owner occupiers and first home buyers, led by Queensland. 

The volume of finance secured for the purchase of property experienced a strong rebound in the September quarter, following the initial shock to demand for housing in the first two months of the June quarter. 

The latest ABS housing finance data shows the volume of finance lent for the purchase of property increased 5.9% in the month of September, taking the quarterly increase to 20.0%, the highest quarterly growth rate on record. It follows a 10.9% contraction in housing finance through the June quarter, when strict social distancing restrictions, such as a ban on open home inspections and on-site auctions, resulted in a sharp drop in transactions. 

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