New home lending up in australia

New data from the Australian Bureau of Statistics show that new home lending grew in the final quarter of the 2013/14 fiscal year.

"The owner occupier segment of new home lending performed well throughout the 2013/14 fiscal year,” explains HIA Economist Diwa Hopkins. "Following decent increases in the December and March quarters, lending for the purchase or construction of new homes increased again during the June 2014 quarter, albeit at a more modest pace of 1.0 per cent."

"Over the full 2013/14 fiscal year new home lending increased by 12.0 per cent. With lending rates remaining very low, turnover in the established home market has risen, as have home prices. The residential construction industry has responded strongly to these signals."