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Today’s housing finance data for November posted a 2.7% jump in the number of new home finance commitments (both construction and new), with commitments also up by 1.1% over the year:
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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 fading in the latter, whereas they are firming in Queensland, have fallen sharply in Western Australia, and are stable in South Australia:
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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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