MNI Australia Housing Finance Dn; Trend Negative For 9 Months

By Sophia Rodrigues

     SYDNEY (MNI) - The number of owner-occupier home loans fell in June, giving

back the entire gains recorded in May and keeping the trend in negative rose for

the ninth month in a row.

     Data published by the Australian Bureau of Statistics Wednesday showed the

number of owner-occupier mortgages fell 1.1% m/m in June, following a 1.0% rise

in May. In the last seven months, the number of owner-occupier loans have risen

just once.

     In trend terms, the number of loans fell 0.5% m/m in June, a small

improvement from a 0.7% fall in May and the slowest pace of decline since

October last year. 

     In value terms, mortgages for both owner-occupier housing rose and

investment housing fell in June. Loans for investment housing fell at a faster

pace in June and was down four straight months.

     From Housing Finance data for June published by the Australian Bureau of

Statistics on Wednesday:

                                                    June                     May

--------------------------------------------------------------------------------

                                      (M/M %, seasonally      (M/M %, seasonally

                                               adjusted)               adjusted)

Number of Owner-Occupied Dwelling                             +1.0 (revised from

Commitments                                         -1.1                   +1.1)

MNI Median Consensus                                +0.2

-Construction of Dwellings                          +2.5                    +1.9

-Purchase of New Dwellings                          -4.9                     0.0

-Purchase of Established

Dwellings                                           -1.3                    +0.9

Value of Dwelling Commitments                       -1.6                    +0.4

-Owner occupied housing                             -1.0                    +0.7

-Investment housing                                 -2.7                    -0.1

--MNI Sydney Bureau; tel: +61 2-9716-5467; email: sophia.rodrigues@marketnews.com

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