The Housing Industry Association (HIA) has expressed its skepticism over the recent ABS Housing Finance figures, saying that despite a slight increase in the result, the results are patchy at best.

 

“It really was a mixed bag for housing finance outcomes in the month of September 2012,” said HIA’s Chief Economist, Dr Harley Dale. “At least some areas of finance for property are looking a little better, but a broad-based recovery is proving elusive.”

 

In the month of September 2012 the total number of seasonally adjusted loans net of refinancing increased by 1.2 per cent, as did (net) loans for established dwellings. The number of loans for the purchase of a new dwelling was up by 9.0 per cent in September, but the number of loans for construction fell by 6.3 per cent.

 

“In terms of owner occupiers, there is still some growth in the first time buyer market, but the modest improvement in finance to trade-up buyers ran out of steam in the September 2012 quarter. The number of loans for the purchase of a new dwelling continues to mount an encouraging recovery," Dr Dale said.