New home finance tanks

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By Leith van Onselen

Today’s housing finance data for January registered the fourth consecutive monthly decline in buyer demand for newly constructed dwellings, with the number of commitments for construction and new dwellings down a combined 5.3% in January and by 5.6% over the year (see next chart).

ScreenHunter_6479 Mar. 11 12.40

The boom in new housing commitments also looks to have have past its November 2014 peak (see next chart).

ScreenHunter_6480 Mar. 11 12.41
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.