Renters benefitting in a moderating housing market

September 9th,2015

The latest housing finance figures released today by the Australian Bureau of Statistics (ABS) reflect continued declining lending activity.

The Real Estate Institute of Australia (REIA) says the figures for July 2015 show, in trend terms, that the number of owner-occupied finance commitments fell by 0.2 per cent. This fall is the fourth consecutive monthly fall and follows eleven months of increases. If refinancing is excluded, in trend terms for July, the number of owner-occupied finance commitments fell by 0.2 per cent.

REIA President, Neville Sanders says, “Decreases were recorded in all states and territories except Queensland, South Australia and New South Wales. The largest decrease was recorded in the Northern Territory – down 3.7 per cent – and the largest increase was in New South Wales – up 0.4 per cent.”

“In trend terms, the number of new dwellings purchase commitments increased by 0.5 per cent while new dwelling construction decreased by 0.9 per cent and the purchase of established dwellings decreased by 0.1 per cent. CLICK HERE for full press release.