Business
New home loans jump the most in 11 years – The Australian Financial Review
Homebuyers chasing low rates and government incentives flooded back in July when virus restrictions began easing and before Melbourne went into lockdown again.
The most generous incentive payments in the country are stoking demand for mortgages in Western Australia, where the value of new loan commitments to owner-occupiers jumped 17.1 per cent in seasonally adjusted terms, chalking up the biggest month-on-month increase since the current data series began in 2002.
This followed June’s 14.9 per cent increase also a monthly record.
The number of loans for the purchase of land jumped 30 per cent to 4096 in July before seasonal adjustments from 3151 in …
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