Record rise for home loans as HomeBuilder makes its mark
Housing finance spiked in July, with a surge in demand for residential land driving the biggest monthly increase in loan commitments on record.
A surge in home finance for residential land can be attributed to government stimulus packages. Photo: Shutterstock (Image source: Shutterstock.com)
Housing finance spiked in July, with a surge in demand for residential land driving the biggest monthly increase in loan commitments on record.
Data from the Australian Bureau of Statistics showed the seasonally adjusted value of new owner-occupier loans rose by 10.7 per cent in July, with the biggest gains in New South Wales, Victoria and Queensland.
The July rise followed a historic fall in the value of loans in May, after the COVID-19 pandem…
