CoreLogic: New mortgages drive house prices

Eliza Owen – CoreLogic’s head or residential research – has published an interesting report on the link between the ABS’ housing finance series and dwelling value growth. As expected, there is a strong correlation between the two, with finance typically leading dwelling values by three months:

This week the ABS released its housing finance data for December 2019. The results show a strong uplift in borrowing for the purchase of property over the month.

Total housing finance for the purchase of property increased 4.4% in December in seasonally adjusted terms, the highest monthly growth rate in over three years. It signifies an additional $832 million in borrowings for property in December.

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