Home loans: Building approvals 'on the increase'

Thursday 05 November 2009

Article by Mozo

Home loans customers may be interested to learn that building approvals may be on the increase if new figures are anything to go by.

The Australian Bureau of Statistics published figures this week show a rise in the number of dwelling approvals in September, which could potentially affect the decision of those looking to compare home loans.

Throughout the month, there was a rise of 2.7 per cent, despite a fall in the previous month.

In terms of private sector housing, approvals increased for the eighth consecutive month, with a 0.3 per cent national gain.

Regionally, the figures stood at a 3.2 per cent hike in Western Australia and 2.4 per cent in Victoria.

However, Queensland witnessed a drop of 5.4 per cent.

Meanwhile, the value of new residential building work rose by 0.8 per cent, which may be good news for home loans customers.

This comes as the quarter-three house price results published by the Australian Property Monitors recently demonstrated a 3.7 per cent increase in property values across the country.

This article is brought to you by Mozo – Helping you compare home loans
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