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Today’s housing finance data for August from the Australian Bureau of Statistics (ABS) recorded another strong rebound in mortgage commitments:
As shown above, total finance commitments (excluding refinancings) rose by 2.9% in August, with owner-occupied commitments rising 1.9% and investor commitments rising 5.7%.
However over the year, total finance commitments (excluding refinancings) fell by 5.0%, with investor commitments tanking by 13.0% and owner-occupied falling by 1.7%.
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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.