New home finance falls some more

Monday 11 April 2016

Today’s housing finance data for February posted another big drop in new home finance commitments, with the number of commitments for both construction and new dwellings falling by 6.5% over the month to be down by 2.7% 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 there has been an uptick in new home finance commitments in both New South Wales and to a lesser extent Victoria and Queensland. However, this is being offset by sharp falls in Western Australia (see next chart).

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

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.