Housing Finance Stable

April 12th,2016

The latest housing finance figures released today by the Australian Bureau of Statistics (ABS) confirm a stable housing market.

The Real Estate Institute of Australia (REIA) says the figures for February 2016 show, in trend terms that the number of owner-occupied finance commitments was unchanged. This follows seventeen months of increases. If refinancing is excluded, in trend terms for February, the number of owner-occupied finance commitments decreased by 0.4 per cent – the third consecutive month of decreases.

REIA President, Neville Sanders said “decreases were recorded in all states except Queensland and Tasmania with Queensland having the largest increase of 0.7 per cent. The largest decrease of 2.0 per cent was in the Northern Territory.”