The Queensland Department of Environment and Resource Management (DERM) has released data on housing transfers and mortgage lodgements for the month of November.
According to DERM, the number of housing transfers and mortgage lodgements fell by -7.9% and -7.2% respectively in November 2012, but were up 9.9% and 4.9% respectively on November 2011. The falls partly reversed October’s surge, where transaction volumes and mortgage lodgements were positively impacted by a pull-forward of demand arising from the mid-October cancellation of the first home owner’s grant on pre-existing dwellings.
Finally, the below chart shows the same transfers and mortgage lodgements data on a rolling annual basis, which removes the month-to-month volatility:
You can see that Queensland transfers and mortgage lodgements have been in an up-trend since late-2011. However, they still remain depressed, tracking -23% (transfers) and -24% (mortgages) respectively below the 12-year monthly average in November.
Twitter: Leith van Onselen. Leith is the Chief Economist of Macro Investor, Australia’s independent investment newsletter covering trades, stocks, property and yield. Click for a free 21 day trial.
