New home finance records big lift

Friday 12 February 2016

Today’s housing finance data for December posted a big lift in new home finance commitments, with the number of commitments for both construction and new dwellings jumping by 5.2% over the month and by 5.3% 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 rebound in new home finance commitments has been driven by New South Wales and to a lesser extent Victoria (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.