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No real surprise here from ABS housing finance for March given the leading indicators showed it coming but still:
MARCH KEY FIGURES
 |
Trend estimates |
Seasonally adjusted estimates | ||
|
Mar 2015 |
Feb 2015 to Mar 2015 |
Mar 2015 |
Feb 2015 to Mar 2015 |
|
Value of dwelling commitments(a)(b) | ||||
|
| ||||
|
$m |
% change |
$m |
% change |
| Total dwellings |
31 264 |
0.8 |
31 622 |
3.5 |
| Owner occupied housing |
18 623 |
0.8 |
18 710 |
1.6 |
| Investment housing – fixed loans(c) |
12 641 |
0.8 |
12 913 |
6.4 |
|
Number of dwelling commitments(a)(b) | ||||
|
| ||||
|
no. |
% change |
no. |
% change |
| Owner occupied housing |
54 190 |
0.4 |
54 686 |
1.6 |
| Construction of dwellings |
5 836 |
-1.4 |
5 804 |
-1.8 |
| Purchase of new dwellings |
2 680 |
-0.1 |
2 777 |
2.9 |
| Purchase of established dwellings |
45 674 |
0.7 |
46 105 |
2.0 |
|
| ||||
| (a) Includes refinancing (see Glossary). | ||||
| (b) Excludes alterations and additions. | ||||
| (c) Excludes revolving credit. | ||||
Investors up 6.4% on the month! Good ‘ol APRA keeping an eye on things.
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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.