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Increased home lending strength across South Australia highlights growing market

By Brett Pilgrim

There are a wide range of reasons why you could want to purchase property in Adelaide. Perhaps you're interested in downsizing after the kids have left, or maybe you've been offered a great job opportunity and need to move to the South Australian capital. Regardless, now could be the perfect time to consider taking the opportunity and moving into a new dwelling within the city as the number of new home mortgages increases. 

During April, the number of owner occupier mortgages rose by 6.1 per cent over the previous month. Furthermore, over the three months to April, this figure had increased by 7.5 per cent. Housing Industry Association executive director for South Australia Robert Harding said this underpinned a 21.6 per cent increase over the same period 12 months earlier. 

"Today's set of figures suggest that a solid pipeline of new home building is likely to continue in South Australia over the next few months at least. Nevertheless, we are encouraged to see that growth has occurred both in the number of loans for the construction of new dwellings and for the purchase of new dwellings over the quarter," said Mr Harding in a 17 June statement. 

"In the three months to April, the number of loans for home construction rose by 8.1 per cent with loans for new home purchase increasing by 4.5 per cent. Policymakers in the state should remember that growth in residential construction can do much to bolster economic growth in amid the challenges faced by the South Australian economy." 

As the region's real estate industry continues to climb and the capital city's economy strengthens, moving into South Australia in the near future could offer a wonderful opportunity for you and your family to establish a home and create a life in the coming months. 

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