South East Queensland

Latest ABS data shows new construction lending is finally on the rise. In July 2019 QLD housing finance commitments reflected a lift across first home buyer, non-first home buyer and investor commitments. Up to $26.5 billion worth of housing finance commitments were made nationally in July this year, marking the second consecutive month of increases for both owner-occupier and investment homes. The value of new lending commitments to households increased 3.9% in July 2019, seasonally adjusted, according to the ABS figures on new lending to households and businesses. The rise follows a 1.9% increase in June 2019.

ABS chief economist, Bruce Hockman, said growth in new lending commitments to households in July was the strongest since October 2014, although remains down from the peak of 2017. The $26.5 billion in housing finance was split between $19.3 billion to owner-occupiers and $7.2 billion worth of commitments to investors.

(Source: ABS)

While lead levels remain low in a flatter Queensland market, many experts are predicting a stronger 2020 based on Brisbane’s affordability attracting interstate migration and annual population growth expected to remain at 1.75% per annum.