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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
AUSTRALIA DATA
Housing finance in December was weak falling 4.1% m/m after a downwardly-revised +0.7%. The weakness was concentrated in lending for owner occupiers (-5.6% m/m) but investor loans also fell (1.3% m/m). But the weak end to 2023 follows four consecutive rises for owner-occupiers and nine for investors. Housing finance is still showing strong momentum and with soft building approvals, demand is likely to continue to push dwelling prices higher.
- The value of December home loans was 11.7% higher than a year ago with owner occupiers +7.4% y/y and investors +20.4% y/y. 3-month momentum is running at close to 40% annualised. The ABS observes that the share of lending going to investors has risen to 35.5% from 27.3% four years ago.
- The number of first time home buyers fell 8.4% m/m but were still up 12.9% y/y and the value of their loans fell 5.5% m/m but was +21% y/y.
- Value of new personal loans fell 2.4% m/m due to lower car loans.
Australia value of housing finance y/y%
Source: MNI - Market News/ABS
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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