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Gross spending on housing finance has increased by 17.1 per cent, according to the PRDnationwide Research Quarterly Economic Property Report.
The report, which shows data on core economic, demographic and property indicators, revealed the gross spend on housing finance during May 2013 was $23.4 billion.
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Investor spending reached $8.4 billion, representing an increase of $1.9 billion on the previous year.
Meanwhile, the report showed consumer sentiment had increased by 6.9 per cent over the past year, based on data from the Australian Consumer Sentiment Index.
Optimism rose from a low of 97.6 points in May to 104.0 points in June. May’s low score was the first time in six months that pessimists outweighed optimists (that is, when the score dips below 100.0).
Despite the lowest index score of 96.2 points, consumer sentiment increased most in Queensland – up 12.8 per cent.
This was followed by Victoria at 9.2 per cent, while New South Wales was the only state to experience a decline in sentiment, falling by 1.4 per cent.
Optimism is highest in Western Australia, which recorded a score of 112.1 points.
