The May 2020 Lending to Households and Business figures released today by the Australian Bureau of Statistics show the largest monthly fall in the history of the series with the value of loans for housing falling by 11.6 per cent in seasonally adjusted terms, according to the Real Estate Institute of Australia (REIA).
“The fall is not unexpected with feedback from agents during May, as restrictions on movements throughout the month were in place and a general air of caution about the economy and its impact on activity in the housing market prevailed, suggesting that this would be the case,” said Adrian Kelly, President of the Real Estate Institute of Australia.
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RENTAL EVICTION MORATORIUMS SHOULD BE REVISITED BY NATIONAL CABINET
HOUSING CONTINUES ITS RECORD RUN
HOUSING MARKET READY TO BE PUT TO THE TEST IN 2021
OCCUPATIONAL MOBILITY MUST SERVE PROPERTY CUSTOMERS: REIA SAYS
REIA News – December 2020
MYEFO POINTS TO GAINS FOR THE PROPERTY MARKET PROMPTED BY QUICKER ECONOMIC RECOVERY
REIA WELCOMES STATE OF THE NATION’S HOUSING REPORT
RE-ELECTED REIA PRESIDENT, ADRIAN KELLY SAYS MEMBERS ARE REPORTING STRONG RECOVERY AFTER CHALLENGING YEAR