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The latest housing finance figures released by the Australian Bureau of Statistics (ABS) bring good news for property vendors.
According to Housing Finance April 2013, the number of dwelling finance commitments for owner occupied housing rose by 1.4 per cent in trend terms in April.
That means that more property buyers are securing finance to make their move in the market.
The number of dwelling commitments for the purchase of existing properties rose by 1.2 per cent, while those for the purchase of new dwellings increased by 3.5 per cent.
The Real Estate Institute of Australia (REIA) welcomed the latest figures, noting that they showed there was a "developing trend of increasing housing commitments", albeit with one exception.
That exception was in the case of first home buyers.
The ABS reports that the proportion of those that had finance approved for a first home purchase had actually increased in April, though only by 0.1 per cent on the March figure of 14.2 per cent, to sit at 14.3 per cent.
REIA president Peter Bushby said in a June 11 statement that this compares poorly to the "long-run average proportion" which he says is around 20 per cent.
He expressed concern that first home buyers are under-represented in the market at present and suggested that this could be due to the withdrawal of support for first home buyers purchasing existing properties in several states through alterations to the First Home Owners Grant.
Despite this, Mr Bushby saw more positives than negatives in these latest housing finance statistics.
"It's encouraging to see buyers responding to interest rate cuts and the stronger outlook for housing," he concluded.
Master Builders Australia chief economist Peter Jones said that these latest figures would stoke growing optimism that a residential building upturn is on the cards.
"The April housing finance figures consolidate the strong increases in February and March," said Mr Jones in a statement.
"It confirms a positive trend and is a welcome change for the industry after many months of volatile figures."
He said that much of the increases in recent months were likely due to people buying new properties, and that while this meant it was likely that builders will see growing demand for their services in the future, there was still a way to go before anyone could proclaim a sustained recovery in the residential housing market.
No matter what kind of property you are currently selling or plan to in the future, news that buyers are increasingly active in the residential property market is a good sign!
