Renovation finance slump continues

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By Leith van Onselen

Today’s Lending Finance data for November, released by the ABS, revealed that personal and renovation finance continues to collapse.

Personal finance commitments were down 9.5% over the year, are down 26% since the March 2013 peak, and are tracking at the lowest level since late 2002:

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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.