Following the historic fall in the value of loans in May, the August 2020 Lending to Households and Business figures released today by the Australian Bureau of Statistics show that the value of new loan commitments for housing grew for the third second consecutive month, according to the Real Estate Institute of Australia (REIA).
“The seasonally adjusted value of new loan commitments for owner-occupied housing rose 12.6 per cent in August and 19.3 per cent for the year, with the rise seen in all states and territories, except the Northern Territory,” said Adrian Kelly, President of the Real Estate Institute of Australia.
“The largest increases in the value of new loan commitments were in Victoria, Queensland and New South Wales.
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