New home finance continues slide

Wednesday 9 December 2015

Today’s housing finance data for October posted a small decline in new home finance commitments, with the number of commitments for both construction and new dwellings falling by 0.8% over the month and by 4.2% over the year (see below charts).

Looking at at the state-by-state breakdown, which is presented below on a rolling annual basis since it is not seasonally adjusted, shows that the uptrend in new home finance commitments has given away across all major jurisdictions, except New South Wales where it is still rising (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.