Latest home building approval numbers have predictably surged off the back of the federal government’s Home Builder scheme – the first phase of which expired at the end of December. The ABS reports that national private sector home building approvals seasonally adjusted increased by 11.5% over December to new record highs. Dwelling approvals were also…
Articles by Dr. Andrew Wilson
Dr Andrew Wilson, Chief Economist of www.MyHousingMarket.com.au is widely regarded as Australia’s leading property economist.
The ABS reported a sharp increase in dwellings approved over November compared to October. Capital city building approvals increased by 19.7% to 11,781 – the highest monthly result since May. November’s sharp increase however reflected the previous months low result of 9840 dwelling approvals – the lowest since January. Surging unit approvals were a major…
The latest ABS residential lending data for January seasonally adjusted confirms that the home buyer strike that impacted housing markets over the latter part of 2018 has continued into 2019. Most states recorded falls in the value of lending to both investors and owner-occupiers excluding refinancing over the month. The exceptions were Victoria where owner-occupied…
The latest housing market scare campaign focuses on questionable analysis of household debt levels. Sharp declines in mortgage rates since 2011 have predictably activated housing markets with prices rising. Higher prices reflect higher mortgages with borrowers taking on more debt as prices rise and enabled by lower mortgage rates allowing purchasers to borrow more with…