Home loan approvals in Australia rose in November mainly due to first home buyer demand. Thanks to extensive rate cutting by the central bank and the government's recent increase in the First Home Owners Grant, first home buyers have made a welcome return to the market.
According to Bloomberg, the number of loans granted to build or buy homes and apartments increased 1.3 percent to 49,192 from October, when they advanced a revised 1.4 percent, the statistics bureau said in Sydney today.
There is now great speculation that the six year low interest rate of 4.25% and the increased benefits to the FHOG will stoke the demand for housing this year. Let's wait and see.
If you are a first time buyer thinking about making the step into property ownership, make sure you get the best information in order to choose the right loan for you.
Be an informed borrower with the Good Loan Guide.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment