Fed: HIA warns investors spooked as loans fall in Feb

AAP General News (Australia)
04-16-2004
Fed: HIA warns investors spooked as loans fall in Feb

The housing industry has warned uncertainty in the rental market has spooked investors,
as loans for property investment fell for the fourth month in a row.

Australian Bureau of Statistics figures show that new loans to property investors fell
3.7 per cent in February, its fourth consecutive fall.

This follows a 15.5 per cent slump in January.

The data is further confirmation of a slowdown in the property market, coming on top
of a drop in home loan approvals earlier this week.

The Housing Industry Association says the latest data shows that recent attacks on
property investment are mis-timed and unnecessary.

It's labelled as particularly inappropriate new taxes that New South Wales is to impose
on investors selling properties.

HIA senior economist HARLEY DALE says investors need some certainty from the federal
government and Labor that they won't impose any new charges or taxes on the market.

AAP RTV so/sb/mj/psm/

KEYWORD: ECONOMY (CANBERRA)

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