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HIA: New Home Lending Commitments Increase During June

New home lending has increased across the nation, which could be fantastic news for anyone hoping to purchase new Carnegie real estate in the future.

According to the latest lending figures released by the Housing Industry Association (HIA), lending for property construction or the purchase of new homes increased by 0.6 per cent during June – bringing the national number up to 8,368. This is 13.3 per cent higher than 12 months ago.

Victoria experienced a 1.9 per cent increase in housing finance commitments for both new and established properties, which could be a good indicator for anyone looking into home loans in the state.

HIA senior economist Shane Garret said in an August 7 statement that these recent figures indicated a steady recovery for the new housing market, as the number of home loans being committed to across Australia increased.

"The continued growth in activity in new home lending is being driven by the reductions in interest rates which have taken place since 2011 as well as a growing sense that the worst of the international crisis has passed," said Mr Garret.

Now could be the perfect time to pursue your Carnegie real estate ownership dreams, so get in contact with Matthew Hurlston at Ray White Carnegie.

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