AFG: First home buyers in heavy retreat

Tuesday 2 September 2014

Australian Finance Group (AFG) has released its housing finance data for the month of August, which registered a small monthly decline in mortgage applications, although both the number and value of applications were up on the same time last year and a record for the month of August.

The number of mortgage applications fell by 2% in August but were up 4% over the year to 9,087, whereas the value of applications fell by 4% over the month but were up by 10% over the year to $3,959 million (see next chart).

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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.