Following the release of these figures by the Australian Bureau of Statistics (ABS) last week, for a change there was some positive economic news concerning home loans and housing finance. Such reports include those by ABC News and by The Australian.
Summarised, the ABS figures show that in November 2008, compared to the previous month, re-financing approvals for purchases of established houses rose 1.1%. Also, first home buyer commitments - as a percentage of total owner occupied housing finance commitments - increased from 19.5% in October 2008 to 23.6%. This is seen as result of the federal government's decision to increase the first-home buyers grant.
The figures are probably even more positive for Sydney's south-west. NSW Office of State Revenue data (as at September 2008) has consistently shown since first-home buyers' grants became available from 2000, by value most such benefits are made to buyers in Sydney's south-west. These figures are based on postcodes. The two top postcodes are Liverpool NSW (2170) and close behind, Campbelltown NSW (2560). However, here's where statistics can play tricks sometimes. There is a separate figure for Hinchibrook (also in the top 20) as it has a different postcode (2168) but in reality is considered part of Liverpool.
Of course data can be interpreted in different ways but whichever way you slice and dice these figures, the Liverpool area is certainly one of the largest beneficiaries of first home buyers' benefits in recent years.
Summarised, the ABS figures show that in November 2008, compared to the previous month, re-financing approvals for purchases of established houses rose 1.1%. Also, first home buyer commitments - as a percentage of total owner occupied housing finance commitments - increased from 19.5% in October 2008 to 23.6%. This is seen as result of the federal government's decision to increase the first-home buyers grant.
The figures are probably even more positive for Sydney's south-west. NSW Office of State Revenue data (as at September 2008) has consistently shown since first-home buyers' grants became available from 2000, by value most such benefits are made to buyers in Sydney's south-west. These figures are based on postcodes. The two top postcodes are Liverpool NSW (2170) and close behind, Campbelltown NSW (2560). However, here's where statistics can play tricks sometimes. There is a separate figure for Hinchibrook (also in the top 20) as it has a different postcode (2168) but in reality is considered part of Liverpool.
Of course data can be interpreted in different ways but whichever way you slice and dice these figures, the Liverpool area is certainly one of the largest beneficiaries of first home buyers' benefits in recent years.
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