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Today’s housing finance data for June posted 2.3% rebound in the number of new home finance commitments (both construction and new), with commitments also down by 6.3% 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 new home finance commitments remain strong in both New South Wales Victoria, whereas they have flatlined in Queensland and have fallen sharply in Western Australia. South Australia is also fairly stable (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.
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