Tasmania leads the nation for growth in new home loans.
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The 1123 new housing finance commitments recorded for Tasmania in November in trend terms were 10.2 per cent ahead of commitments in November 2017, Australian Bureau of Statistics figures showed.
Among the other seven states and territories, only the ACT (3.8 per cent) and South Australia (1.4 per cent) had home loan growth, comparing the two Novembers.
Nationally, commitments decreased by 6.7 per cent.
Tasmania also outstripped the nation for growth in first home buyer commitments.
New home loans for first home buyers in Tasmania increased by 19.3 per cent in original terms in the year to November, compared to 11.1 per cent nationally.
In less than a year, these measures have helped 776 first home buyers to afford to purchase a home and 149 pensioners to downsize, releasing more family homes onto the market.
- Roger Jaensch
State Treasury analysis showed first home buyers accounted for 14.8 per cent of Tasmanian housing finance commitments during the year and 17.9 per cent nationally.
The average loan size for first home buyers in Tasmania during the year was $261,000.
That was an increase of $19,000.
The average commitment by other home buyers increased from $239,000 to $257,000.
Nationally, average home loans sizes were $338,000 for first home buyers and $402,000 for other buyers.
The state government on Wednesday announced it would extend tax relief measures to help first home buyers enter the market and eligible pensioners to downsize their housing until June 30.
The measures had been due to expire.
“In less than a year, these measures have helped 776 first home buyers to afford to purchase a home and 149 pensioners to downsize, releasing more family homes onto the market,” Housing Minister Roger Jaensch said.
Separate ABS figures showed the value of building work done in Tasmania increased by 6.1 per cent to $404 million in the September quarter, in trend terms.
Treasury said the number of housing starts in Tasmania was estimated to have decreased by 0.4 per cent to 717 in the quarter.
That was 10.5 per cent more than in the September quarter a year earlier.
Housing completions were up by 8.8 per cent for the quarter and 37.8 per cent compared to the September quarter of 2017.
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