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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.
AUSTRALIA DATA
May home loan values fell 1.7% m/m after a strong rise of 4.8% the previous month and are still running at 18%y/y. With strong momentum and annual growth rates in double digits, May’s decline looks like payback for previous strength rather than the start of a downtrend. With robust working-age population growth, demand for housing remains strong.
- Owner-occupied loans fell 2% m/m after an upwardly revised +4.5% in April to be up 12.2% y/y and investor loans fell 1.3%, driven by NSW, after rising 5.3% to be +29.5% y/y. Both components are seeing very strong 3-month momentum.
- The value of first homebuyer loans fell 2.9% m/m to still be up 10.1% y/y but down from 18.5% in April. However, 3-month annualized momentum is around 37% signaling the sector remains robust.
- Personal finance loans fell 0.7% m/m but are up 12.7% y/y with vehicle loans up 0.8% m/m.
Australia value of total new housing loans %
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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