NSW Home Buyers Seeing Favourable Market
Dwelling approvals were on the rise in New South Wales during November 2013, according to the Australian Bureau of Statistics (ABS).
The ABS reported on January 9 that dwelling approvals increased 1.3 per cent in NSW on a month-over-month basis.
Meanwhile, home loan approvals were also on the rise in the state during the same time period. In fact, Loan Market Director of Sales Mark De Martino said in a January 13 media release that NSW was among the top performers when it came to home financing during November 2013, along with Queensland and Western Australia.
"New South Wales has recovered nicely over the past two years, with consecutive month-on-month growth since January 2012," Mr De Martino said.
"The resource rich states of Queensland and Western Australia approved 15 per cent and 12 per cent more home loans that the same time last year. These numbers are certainly encouraging for the economy and specifically the property market."
In short, if you're looking to enter the property market, more options and low interest rates are both great indicators that now may be the perfect time to do so.
If you're looking for a mortgage broker in Bondi or surrounding areas, contact Daniel Pym and I'll help you find the loan solution that most suits your needs.