Housing finance still falling

There is no sign of any relief in the declining housing market. The number of new housing loans in WA decreased by 18.2 per cent in the 12 months to October, on a seasonally adjusted basis. Housing loans fell by 9.9 per cent between September and October. While loans for the purchase of established dwellings are holding up fairly well, loans for the construction or purchase of new dwellings are still declining.