Home building boom coming in 2010

Demand for new home loans for owner-occupier home buyers fell in October by 1.4%, according to the Australian Bureau of Statistics.

The number of home loans taken out by people building a new home went up by more than nine per cent during the month of October 2009, fuelled by the federal government home buyer grants.

Economists said the figures flag a home building boom for 2010 which will add to economic growth.

If you are thinking of building your own home, speak to one of the mortgage consultants about owner builder finance.