Fed: Home lending still at record levels in June

AAP General News (Australia)
08-08-2001
Fed: Home lending still at record levels in June

CANBERRA, Aug 8 AAP - Lending for home purchases remains at record levels, boosted
by a huge surge in borrowing to build new homes, official figures said today.

Allowing for seasonal factors, housing finance edged up 0.2 per cent in June to a record
52,932 dwellings, after the previous month's 9.8 per cent jump.

Dwelling finance is now 33.9 per cent higher than it was 12 months earlier.

Finance for construction of new homes soared 17.4 per cent to 6,594 dwellings, the ABS said.

But there were falls in lending for the purchase of new homes (down 4.2 per cent to
1,692) and the purchase of existing homes (down 1.7 per cent to 44,646).

AAP jph/daw/arb/bwl

KEYWORD: HOUSING

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