Home loans customers may be pleased with house building stats

Monday 07 September 2009

Article by Mozo

House building figures showed an improvement last month, in news that may interest those looking for low interest home loans.

According to new Performance of Construction Index (PCI), statistics from the Australian Industry Group in conjunction with Housing Industry Association, there was a rise in the property construction throughout the month.

The PCI demonstrated an increase of 2.9 points, reaching 42.4.

Housing Industry Association chief economist Dr Harley Dale said this bodes well for the market in coming months and could be good news for home loans customers.

"[The PCI] is back in positive territory and along with a range of leading indicators is signalling a recovery in new house construction in 2009/10," he said.

While improvements may be slow, it is a step in the right direction, he concluded.

In related news, house prices across Australia have increased, according to the RP Data Rismark Home Value Index.

Figures from the group indicated there was a rise of 10.8 per cent in July.

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