New home finance commitments down in February

Thursday 12 April 2018

Today’s housing finance data for February posted a 2.8% decline in the number of new home finance commitments (both construction and new), although commitments were up by 7.5% over the year:

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 very strong in both New South Wales and Victoria, whereas they have flattened elsewhere:

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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.