Home loans below peak

Bendigo Weekly | Bendigo Weekly | 11-Sep-2015

HEAVEN SENT: The former Uniting Church is up for auction.

Australian Bureau of Statistics housing finance figures released this week show that while lending to investors buying new homes reached an all-time high in July, lending to owner occupiers remained below the peak that occurred nearly a year ago.

The Housing Industry Association says the total number of loans to owner occupiers purchasing or constructing new homes remained largely unchanged in July 2015 compared with the level in June, but was 9.4 per cent lower than the peak level of lending that occurred in September of last year. 

In contrast, lending to investors constructing new homes increased strongly in July. 

The value of lending in this category jumped by 11.7 per cent in the month alone to reach a new all-time high. 

HIA economist Diwa Hopkins said investors have played a major role in the current new home building cycle, contributing a larger share of new housing supply than has historically been the case.

“We maintain our concern about recent APRA interventions – there is a risk of disruption to new home building activity,” he said.

“New home building has been a key element to the broader domestic economy’s continual growth in recent years, but critically, it has also made meaningful headway in satisfying the housing needs of Australia’s growing population.” 

The arrival of spring has triggered a frenzy of activity in the local housing market, with several auctions scheduled for this weekend.

Kicking off today at 2pm today, Friday, September 11 on site, agents DCK Real Estate and Tweed Sutherland First National have an extremely rare offering of five commercial freeholds in Bendigo’s tightly held Hargreaves Mall to be offered individually. Located at 280, 282, 284, 286 and 288 Hargreaves Mall.

A rare opportunity to buy a slice of heaven – or the next best thing, exists via Saturday’s auction of the former Uniting Church and adjoining manse at 19 Panton Street and 2A Laurel Street, Golden Square.

Listed with Tweed Sutherland First National, the circa 1872 solid brick church building is set on 943 square metres, while the next door manse features four bedrooms, cellar, pressed metal ceilings and a return verandah and stables. The property does need restoration, but offers enormous potential.

The properties will be offered firstly as a whole, and then if necessary, in two lots. Auction starts at 11.30am Saturday.

TSFN also has a stunning Californian bungalow at 121 Hargreaves Street up for auction from 1pm Saturday. The three bedroom inner city home has enormous street appeal, a host of period features, pool, rear paved entertaining area and a large rumpus room. 

The company also has a three bedroom plus study cream brick home set on half an acre at 110 Lockwood Road, Kangaroo Flat set for auction from 11am Saturday. 

Elders Bendigo has a low-cost 16 acre allotment at 309 Sugarloaf Road Axedale to auction on site from 10am Saturday. Located only 20 minutes or so from the Bendigo CBD, the property is zoned Rural Conservation, with power and telephone at the boundary. Bidding is expected to commence at around $100,000.


Captcha Image