Queensland’s slowing housing activity

By Leith van Onselen

Below is a quick update on the latest fortnightly State Government data on housing transfers and mortgage lodgements for Queensland.

As shown below, the number of housing transfers and mortgage lodgements (including refinancings) bottomed in December 2012 and has been rising gradually ever since, commensurate with Queensland housing prices. However, the trend is slowing and appears to be approaching an inflection point:

ScreenHunter_6169 Feb. 19 16.30

The number of mortgage discharges has, since 2008, easily outnumbered the number of mortgage lodgements. However, the difference appears to be growing:

ScreenHunter_6170 Feb. 19 16.32

Indeed, the total number of mortgages in Queensland hit a deficit of 9,741 in the year to 7 February 2015, just off the record high deficit of 9,768 recorded two weeks prior:

ScreenHunter_6171 Feb. 19 16.33

It is worth noting that RP Data has recorded weakening price growth for Brisbane since July last year, which corresponds to the slowing growth of transfers and mortgage lodgements (also since July 2013):

ScreenHunter_6172 Feb. 19 16.38

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