Fed: Demand for housing loans rises for 7th straight month =2

AAP General News (Australia)
08-08-2007
Fed: Demand for housing loans rises for 7th straight month =2

Despite this surge of interest to get a home loan, there is little sign of housing
affordability getting any easier, particularly after today's rate rise.

The ABS's house price index for the June quarter shows house prices in capitals across
the nation on average grew 3.2 per cent, the fastest pace of growth in a year. Annually,
prices rose 9.2 per cent.

Notably, house prices in Sydney grew at their fastest pace since the tail end of the
housing boom in late 2003, rising 2.3 per cent in the three months to June.

Elsewhere, house prices in Melbourne rose 5.0 per cent in the June quarter, in Brisbane
they rose 6.5 per cent and in Adelaide they rose 5.7 per cent.

In Hobart they rose 2.3 per cent and in Canberra 2.9 per cent.

However, in the resources boom capital of Perth they fell 0.9 per cent, and in Darwin
they declined 1.4 per cent.

AAP cb/sb/apm

KEYWORD: ECONOMY LOANS 2 CANBERRA

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