Free Trial

EGB Supply For W/C May 23, 2022


Bear Cycle Still In Play


Starting The Week On A Firmer Note


W/C May 23, 2022


Monitoring Support


Support Appears Exposed

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
--Overall Housing Finance Declines Unexpectedly in September
     SYDNEY (MNI) - Housing-finance data for September published by the
Australian Bureau of Statistics on Thursday:
                                               September                  August
                                      (M/M %, seasonally      (M/M %, seasonally
                                               adjusted)               adjusted)
Number of Owner-Occupied Dwelling                              +1.5(revised from
Commitments                                         -2.3                   +1.0)
MNI Median Consensus                 +3.0 (-0.5 to +4.5)
-Construction of Dwellings                          -2.6                    -2.3
-Purchase of New Dwellings                          +1.8                    +1.7
-Purchase of Established
Dwellings                                           -2.6                    +2.0
Value of Dwelling Commitments                       -3.6                    +2.0
-Owner occupied housing                             -2.1                    +0.4
-Investment housing                                 -6.2                    +4.8
     FACTORS: The number of loans to first-time home buyers fell in September,
the first drop since April, but this followed a sharp rise in August. Such loans
have been rising recently due to a change to first-time home buyer incentives
made in July by the New South Wales and Victorian provincial governments. The
overall increase has increased the ratio of first-time home buyer finance
commitments to total mortgages to 17.4% in September from 17.2% in August.
     Overall, finance commitments for owner-occupier dwellings fell unexpectedly
in September due mainly to a drop in loans for the purchase of existing
dwellings and a decline in loans for construction. In trend terms, housing
finance growth slowed slightly to +0.7% in September from +0.8% in August, but
remains higher than +0.1% recorded in April. 
     In value terms, total loan growth fell due to a sharp 6.2% decline in loans
for investment housing and a 2.1% drop in owner-occupier loans. 
     TAKEAWAY: The data was lower than expected and well outside the range
predicted by economists in an MNI survey. They confirm housing market activity
is slowing, which is also evident in the fall in prices in Sydney and a
moderation in price growth in Melbourne.
--MNI Sydney Bureau; tel: +61 2-9716-5467; email:

To read the full story

Why Subscribe to

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.