December lending volumes up

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Thursday, 12 February 2009

Government incentives and reduced interest rates have played a major role in boosting borrowing activity for December 2008.

Australian Bureau of Statistics figures show owner occupied home loans established in December rose by 6.4% making a total of 52,974 loans.

Lending for new dwellings rose by 15.2%, a significant increase.

First home buyer activity made up a total of 25.4% of owner occupied loans established in December. This is a positive sign that the boosted grant is playing its role and spurring market activity.

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