New home finance still going strong

Tuesday 9 September 2014

Today’s housing finance data for June confirmed that buyer demand for newly constructed dwellings remains quite strong (see next chart).

Despite falling by a seasonally adjusted 0.8% in July, the number of finance commitments for new dwellings (i.e. construction plus new) are up 8.6% over the year and tracking some 16% above the 5-year moving average level (5YMA).

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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.