Spring mortgages destroyed by COVID winter

Tuesday, 18 August 2020

There will be no Spring bounce for property on the latest CoreLogic leading mortgage index:

The index is materially below comparable 2019 and 2018 levels and crashed from 2017. Recall, too, that this index is owner-occupier only. Investor mortgages are much weaker to boot.

There may be some downside price support from weak listings:

But I have a question mark over this measure. Others are much higher. Full report.

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.