Housing finance another positive sign for our property markets

One of the leading indicators that I watch is housing finance commitments, because generally when these rise a few months later people are out buying themselves homes.

Today the Australian Bureau of Statistics (ABS) has just released housing finance data for the month of June, which registered a seasonally-adjusted 2.7% increase in the number of owner-occupied finance commitments over the month.

This was the fifth consecutive increase in owner-occupied commitments….

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While the number of owner-occupied housing finance commitments (excluding refinancings) was up 14.9% on June 2012 with  the average loan size rose 0.7% over the month and was up 0.9% over the year.

However first home buyers are still staying out of the market with FHB loans 13% lower than June 2012

 

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Property & Econonomic Update

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Michael is a director of Metropole Property Strategists who create wealth for their clients through independent, unbiased property advice and advocacy. He's been once agin been voted Australia's leading property investment adviser and his opinions are regularly featured in the media. Visit Metropole.com.au


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