NSW Posts Strength in Home Lending, Construction
New South Wales remains a strong economic performer, good news if you're looking to purchase property in the Sydney region.
The latest State of the States report from CommSec rated each state in Australia based on eight economic indicators, including economic growth, retail spending, equipment investment, unemployment, construction work done, population growth, housing finance and dwelling commencements.
NSW was the third strongest on unemployment, population growth, housing finance and dwelling starts.
The state's strength in regards to housing finance and dwelling starts are particularly favourable if you're considering buying property.
The availability of housing finance bodes well for taking out a home loan, and new construction indicated by dwelling starts means more choices for potential home buyers.
"NSW has moved up to third spot on housing finance, up 5.4 per cent on the decade average followed by the ACT (up 4.7 per cent)," stated CommSec Economist Savanth Sebastian in the January 20 report.
"And importantly the NSW market has momentum with home lending 20.4 per cent higher than a year ago in trend terms."
If you're looking for a mortgage broker in Bondi or surrounding suburbs, contact Daniel Pym and I'll help you find the loan solution that works for you.