Housing Changes
Apr 13th 2004, 10:18 am
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Housing Changes
http://www.theaustralian.news.com.au...55E462,00.html
Housing market loses heat
April 13, 2004
THE property market continued to come off the boil in February, with home loan approvals falling 4.3 per cent for the month.
Figures from the Australian Bureau of Statistics showed first home buyers continued to do it tough as loans to their segment of the market fell to a record low of 12.7 per cent.
The ABS data for February showed, on a seasonally adjusted basis, total home loan approvals fell 4.3 per cent to 50,692.
Home loans for building new homes fell 3.6 per cent to 5,165, while those to buy new homes rose 10.2 per cent to 1845.
Home loans to buy established homes fell 4.9 per cent to 43,682.
The ABS said the fall in total home loan approvals was driven by a drop in mortgage refinancing for established homes.
The average loan value was $190,600 in February 2004, up from the January figure of $186,400, the ABS said
Housing market loses heat
April 13, 2004
THE property market continued to come off the boil in February, with home loan approvals falling 4.3 per cent for the month.
Figures from the Australian Bureau of Statistics showed first home buyers continued to do it tough as loans to their segment of the market fell to a record low of 12.7 per cent.
The ABS data for February showed, on a seasonally adjusted basis, total home loan approvals fell 4.3 per cent to 50,692.
Home loans for building new homes fell 3.6 per cent to 5,165, while those to buy new homes rose 10.2 per cent to 1845.
Home loans to buy established homes fell 4.9 per cent to 43,682.
The ABS said the fall in total home loan approvals was driven by a drop in mortgage refinancing for established homes.
The average loan value was $190,600 in February 2004, up from the January figure of $186,400, the ABS said
