The drumbeat of crappy housing data is getting louder and more frequent. From the ABS February Housing Finance we get the following:
Here are a string of graphs to give you a feel for how bad the trends are:
I call them bad, yuk, crap and foul. And here’s one last one to drive home the point (if you’ll pardon the pun):
House price falls are set to accelerate on this data.
Finally, to prove I am not making this up, refer below to the CBA report on the data which doesn’t even bother reaching for the lipstick for this pig: