Australia’s mortgage market goes BOOM!

Thursday, 10 October 2019

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.