New home lending steady in oz

New home lending is holding steady in Australia, according to the latest figures from ABS.

The number of owner occupier loans for the construction new build properties rose 2.3 per cent in November 2013, but lending for the purchase of new homes dipped 4.3 per cent.

"This means that the number of loans to owner occupiers for new dwellings was flat during November but the further gain to construction loans is a positive for new home building activity in early 2014,” comments Shane Garrett from the Housing Industry Association.

“Lending for new homes is up substantially on a year ago and the strong state of the market is also captured by the 1.2 per cent rise in loans for existing home purchase during November."

Indeed, the value of loans to investors also climbed 1.5 per cent in November 2013, indicating growing confidence in the housing market Down Under.