Queensland has recorded the largest fall in new home loans of any state, the ABS revealed today*.
The value of approved lending for owner-occupied properties – excluding refinancing – slumped by 9.94 per cent. Nationally, lending fell 5.9 per cent.
LNP Deputy Leader and Shadow Treasurer Tim Mander said the steep fall in December was a concern.
“This large fall in lending is another disturbing sign of Queensland’s slowing economy,” Mr Mander said.
“We have seen approvals for new buildings fall every month for a year and now home-lending is sliding faster than in any other state.
“Report after report has shown business has no confidence in Annastacia Palaszczuk.
“Now it seems home buyers are losing confidence too.
“Labor is smashing home builders and home buyers with new property taxes and a waste tax which will add an extra $2000 to the cost of a new home.
“Labor has no economic plan for Queensland – apart from even more taxes.
“With unemployment at 6.2 per cent, Queensland can’t afford to lose more jobs in the construction sector.”
* www.abs.gov.au/ausstats/abs@.nsf/latestProducts/5601.0Media%20Release1Dec%202018
