Menu

Search

  |   Commentary

Menu

  |   Commentary

Search

Australia’s housing finance approvals fall in December, suggesting only mild pull-back in residential construction

Australia’s housing finance approvals fell in December, with both owner-occupier and investor lending down in the month. Some softening in housing finance is consistent with the broad cooling in the housing market seen in late December.

The value of housing finance commitments retraced the previous two months’ gains, falling 2.5 percent m/m in December. Total finance is now 2.2 percent lower than a year ago, the first negative annual growth rate since August 2016. In trend terms, though, housing finance is down just 0.5percent y/y.

Both owner-occupier and investor lending fell in the month. The value of housing finance for investors fell 2.6 percent m/m in December, to be 10.5 percent lower over the year. In three month end annualized terms, however, the worst now appears behind us in terms of the slowdown in investor finance.

Owner occupier finance also fell, down 2.3 percent m/m in December, but this followed a strong 1.7% bounce the previous month, with approvals still up 5.6 percent y/y.

Finance for first home buyers slipped a touch in December (-1.4 percent m/m) but has stabilized at much higher levels than seen in recent years. Indeed, finance for first home buyers is still up 35 percent y/y and accounted for 11.7 percent of total finance.

Lastly, FxWirePro has launched Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

November 19 02:30 UTC Released

THGDP Growth YY

Actual

3.3 %

Forecast

4.2 %

Previous

4.6 %

November 18 23:50 UTC Released

JPTrade Balance Total Yen

Actual

-449.3 Bln JPY

Forecast

-70 Bln JPY

Previous

139.6 Bln JPY

January 31 00:00 UTC 420774420774m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 420774420774m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 432594432594m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 420774420774m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 432594432594m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 420774420774m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 420774420774m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 420774420774m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.