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Victorian New Home Lending Rates Increased During May

Anyone looking into purchasing new Carnegie real estate could be thrilled by recent news from the Australian Bureau of Statistics (ABS) which highlighted that lending for new homes increased during May this year.

The latest Housing Finance report showed that the number of loans for the construction and purchase of new owner-occupied homes grew by 0.6 per cent in May. This is 18.1 percentage points higher than the same time last year.

Furthermore, the seasonally adjusted number of housing finance commitments, for both new and established properties, increased by 2.6 per cent in Victoria – which could indicate a fantastic time to take the opportunity to purchase real estate in Carnegie

Economist for the Housing Industry Association Diwa Hopkins said in a July 12 statement that the number of new homes loans over the three months to May were substantially higher than the previous year.

"Looking at new home lending across the states and territories, it is encouraging to see that these improvements have been reasonably broad-based," Ms Diwa said.

If you're interested in looking into new dwellings in Carnegie, get in contact with Matthew Hurlston at Ray White Carnegie. His expertise will be invaluable in helping you to achieve your real estate goals.

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