Housing finance bottoms

Thursday, 11 July 2019

Today’s housing finance data for May from the ABS recorded a fall in mortgage commitments:

As shown above, total finance commitments (excluding refinancings) fell by 2.4% in May, with owner-occupied commitments falling 2.7% and investor commitments falling 1.7%.

Over the year, total finance commitments (excluding refinancings) crashed by 20.9%, with investor commitments tanking by 27.8% and owner-occupied by 18.0%.

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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.