Moderating Housing Finance

July 11th,2016

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

The Real Estate Institute of Australia (REIA) says the figures for May 2016 show, in trend terms that the number of owner-occupied finance commitments fell by 0.2 per cent – the fourth consecutive month of slight declines. If refinancing is excluded, in trend terms for May, the number of owner-occupied finance commitments decreased by 0.3 per cent – the sixth consecutive month of decreases.

REIA President, Neville Sanders said “decreases were recorded in all states except South Australia and the Australian Capital Territory with the Northern Territory having the largest decrease of 1.4 per cent. The largest increase of 1.2 per cent was in the Australian Capital Territory. Tasmania and Victoria were flat.”

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