New home finance hits second peak

By Leith van Onselen

Today’s housing finance data for September posted a 0.3% fall in the number of new home finance commitments (both construction and new), with commitments also down by 3.3% over the year (see below charts).

Looking 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 and Victoria, although they are beginning to fade, whereas they have firmed slightly in Queensland and have fallen sharply in Western Australia. South Australia is also fairly stable (see next chart).