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ELEANOR HALL, PRESENTER: The latest official housing finance figures bring further grim news for the Australian economy. The value and number of new home loans fell sharply in August across both the owner-occupied and investment segments of the market.
Finance for the construction of new homes dropped 4 per cent from July. And loans for established properties also declined. The Housing Industry Association (HIA) says loans to owner occupiers have dipped below 50,000 for the first time since April 2001. And construction industry groups are calling for further interest rate cuts to stimulate demand.
Source: Lateline Business
