The latest figures released by the Australian Bureau of Statistics (ABS) show that the total value of housing finance approvals rose by 1.4% on January 2013 and is up 8.7% on the same time last year. It was interesting to note that the number of owner occupied housing approvals rose by 2% in February. This is on the back of record low interest rates and improving positive consumer sentiment.
The question remains as to whether this is a sustainable trend. Based on the level of inquiry Mortgage Choice is presently experiencing we remain quietly confident of further growth for housing finance approvals in the coming months.