Another good month for home loans

Home lending continues to improve for the seventh month in a row, according to data released this week by the Australian Bureau of Statistics. 

Housing finance figures for July 2013 show that the number of commitments for owner-occupied housing finance rose 2.4 per cent in seasonally adjusted terms, following a rise of 2.7 per cent in June. 

The number of loans to buy established dwellings rose by 43,809 or 2.7 per cent while loans to buy new dwellings rose by 5.9 per cent. Loans to build new homes fell by 2.1 per cent. 

The total value of dwelling commitments excluding alterations and additions (seasonally adjusted) rose 1.1 per cent in July, following a similar rise of 1.2 per cent in June.) 

The value of investment housing (fixed loans) commitments rose 2.9 per cent, while loans for owner-occupied housing remained unchanged between June and July 2013.