Housing Finance Approvals Hit New Highs
According to the REIA, the consecutive rise in approvals comes after a brief dip in February.
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With low interest rates, decreasing affordability and the heat in the Australian housing market well documented, it should come as no surprise that the value of new loan commitments for housing rose for the second consecutive month.
According to the April 2021 Lending to Households and Business figures released today by the Australian Bureau of Statistics (ABS), the consecutive rise in results comes after a brief fall in February following eight consecutive months of growth according to the Real Estate Institute of Australia (REIA).
“The seasonally adjusted value of new loan commitments for owner occupier housing increased by 4.3 per cent in April and was up 68.2% for the twelve months, setting a new record,” said REIA President, Adrian Kelly.
Further Mr Kelly said the value of new loan commitments, for the purchase of existing dwellings, rose 9.2%.
“Rises in the value of new loan commitments for owner occupier housing were seen in all states and territories except Western Australia, with New South Wales and Victoria having the largest increases of 8.6% and 8.4% respectively,” added Mr Kelly.
On the investment side, April saw an increase for the eleventh consecutive month with “the value of loan commitments for investor housing increasing by 2.1% for the month and 63% for the year.
Mr Kelly said the number of owner occupier first home buyer loan commitments fell for the third consecutive month. The April fall of 1.9 per cent is still 59.6 per cent higher than twelve months earlier. Owner occupier first home buyer loan commitments accounted for 32.9 per cent of all owner occupier commitments excluding refinancing, down from January’s 36.5 per cent when lending for first home buyers was at its highest since May 2009.
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Bhutan is pioneering a new frontier in travel by allowing tourists to pay for flights, visas, hotels and even fruit stalls using cryptocurrency via Binance Pay.
Bhutan is pioneering a new frontier in travel by allowing tourists to pay for flights, visas, hotels and even fruit stalls using cryptocurrency via Binance Pay.
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Bhutan has become the first country in the world to implement a national-level cryptocurrency payment system for tourism, marking a major milestone in digital innovation and travel.
Launched in partnership with Binance Pay and Bhutan’s fully digital DK Bank, the system enables travellers with Binance accounts to enjoy a seamless, end-to-end crypto-powered journey. More than 100 local merchants, from hotels and tour operators to small roadside vendors in remote villages, are already live on the system.
“This is more than a payment solution — it’s a commitment to innovation, inclusion, and convenience,” said Damcho Rinzin, Director of the Department of Tourism, Bhutan.
“It enables a seamless experience for travellers and empowers even small vendors in remote villages to participate in the tourism economy.”
Using supported cryptocurrencies, tourists can now pay for nearly every part of their trip, including airline tickets, visas, the Sustainable Development Fee (SDF), hotel stays, monument entry fees, local guides, and shopping, all through secure static and dynamic QR code payments.
Binance CEO Richard Teng praised the move, saying: “We are excited to partner with Bhutan as we are not only advancing the use of cryptocurrencies in travel but also setting a precedent for how technology can bridge cultures and economies. This initiative exemplifies our commitment to innovation and our belief in a future where digital finance empowers global connectivity and enriches travel experiences.”
Known as the “Kingdom of Happiness,” Bhutan has long prioritised Gross National Happiness over GDP, with a strong focus on sustainability, cultural preservation, and societal well-being. The new system aligns with these values by reducing payment friction and bringing financial inclusion to local communities.
Among the key features of the system:
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Seamless Experience: Tourists can pay with crypto for all travel-related expenses.
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Inclusive Reach: Small vendors, even in remote areas, can accept QR code payments.
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Lower Fees: Transactions cost significantly less than traditional payment methods.
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Comprehensive Support: More than 100 cryptocurrencies supported, including BNB, BTC, and USDC.
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Secure and Instant: Real-time confirmations, 2FA, and encrypted transactions via the Binance app.
Behind the local settlement mechanism is DK Bank, Bhutan’s first fully digital bank. Licensed by the Royal Monetary Authority of Bhutan, it aims to deliver accessible financial services to all, including marginalised and unbanked communities.
The launch is being hailed as a bold step forward in integrating digital finance with global tourism — one that could set the benchmark for other nations looking to modernise the travel experience while empowering their local economies.
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