QLD housing activity takes a breather

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By Leith van Onselen

The Queensland Government has released data on housing transfers and mortgage lodgements for the month of July.

According to the Government, the number of housing transfers fell by 4.4% in July, whereas the number of mortgage lodgements fell by 1.1% over the month. On a year-on-year basis, transfers fell by 4.1% in July, whereas mortgage transfers fell by 6% (see next chart).

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You can see from the next chart that Queensland transfers and mortgage lodgements have been in an up-trend since late-2011, but took a breather in July. They also remain depressed overall, still tracking 25% (transfers) and 27% (mortgages) respectively below the 13-year average in the year to July 2013 and are at similar levels to the year 2000.

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So it appears that the housing recovery underway in Queensland remains tepid.

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Unconventional Economist