Housing finance flat in April

Friday, 8 June 2012

ABS Housing Finance is out and is going nowhere. The headline number was a seasonally adjusted rise of 0.2%:

The internals show decent bounces in the value for owner occupied and investment loans:

But for those looking to find turning points for established dwellings, you can see in the loan numbers that the growth was all in new homes and refinancing.

In fact, the number of established dwelling loans actually fell in the month, down some 95 loans. The total amount rose just $19 million or so.

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.