New home lending rates recorded a lacklustre end to 2012, according to the latest aBS Housing Finance statistics.

While the trend estimate for the total value of dwelling finance commitments has rose by 0.4 per cent, and investment housing commitments rose 1.3 per cent, the total value of dwelling finance commitments record a 2.6 per cent fall between November and December last year.

“The headline result for December 2012 was just in the positive for new home building.  Underneath this, the picture is still very patchy, although some geographical areas are posting more encouraging results,” said Housing Industry Association economist Diwa Hopkins.

“Overall, 2012 can be characterised as year where new home lending just managed to climb out of the lows reached in 2011, with lending for construction and purchase of new homes rising by 8.5 per cent.  Furthermore, it’s encouraging to see that the NSW, Queensland and WA finished off 2012 with positive results as these states will  be crucial to an aggreagate recovery in new home building,” Ms Hopkins said.

The full ABS data set can be found here