The good news keeps coming for Tasmania’s real estate and construction sectors, with the state getting the nation’s strongest growth in new home loans.
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Tasmania had 1060 housing finance commitments in August, in trend terms figures from the Australian Bureau of Statistics.
That was a 3.6 per cent increase, compared to August 2017.
Commitments decreased, comparing August to August, in every other state and territory.
Tasmania’s 0.5 per cent growth in commitments in August compared to July was also the nation’s strongest.
The state had more home loan commitments in August than in any month since September 2009.
State Treasury analysis showed average Tasmanian home loan sizes increased significantly during the year.
The average new home loan for first home buyers increased by 7.5 per cent in the year to August, to $257,000.
The average for non-first home buyers climbed by 8.5 per cent, to $255,000.
In other recent housing-related figures from the ABS:
- Dwelling approvals by councils were up by 16.8 per cent in August, compared to August 2017;
- they were up by 2.3 per cent from July;
- the state’s 2821 new dwelling starts in the year to the end of June were up by 29.6 per cent compared to the previous year; and
- the 2340 dwelling completions for the year to June were up by 8.3 per cent.
