The latest housing finance figures released by the Australian Bureau of Statistics (ABS) reflect a stable market with a moderation in investor activity.
The Real Estate Institute of Australia (REIA) says the figures for August 2014 show, in trend terms, that the number of owner-occupied finance commitments fell by 0.2 per cent. Whilst this is the second consecutive month of falls, it comes off the back of monthly increases over the previous eleven months. If refinancing is excluded, in trend terms for August, the number of owner-occupied finance commitments fell by 0.6 per cent – the seventh consecutive drop this year.
REIA President, Peter Bushby says, “Decreases were recorded in South Australia, Queensland, the Northern Territory, South Australia and Victoria. The Northern Territory had the biggest rise of 1.1 per cent. The largest fall was recorded in Queensland – down 0.2 per cent.”
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