Improvements in South Australia residential property lending
The number of loans for the construction and purchase of new residential properties have increased ...
The number of loans for the construction and purchase of new residential properties have increased by 4.1 per cent in March.
People buying a house during the March quarter pushed the number of these loans up by 26.5 per cent.
In a statement about the improvements, Robert Harding, the Housing Industry Association executive director for South Australia, said that the results were encouraging.
This, he said, was "among a host of indicators, signalling some improvement in South Australia's new home building activity".
Another of these indicators may be the rise in regional house prices, which was a four per cent median increase compared to the same time last year, as shown by the Real Estate Institute of South Australia (REISA) in April.
Mr Harding said that the recent changes to policies in South Australia had played a big part in slowing the protracted decline in new home building.
"However, we're a long way off from seeing a recovery which returns activity to genuinely healthy levels commensurate with the housing needs of South Australians," he said.