Time to review macro prudential measures

February 12th,2016

The latest housing finance figures released today by the Australian Bureau of Statistics (ABS) show a continued increase in owner occupier lending and a decline in investor activity.

The Real Estate Institute of Australia (REIA) says the figures for December 2016 show, in trend terms that the number of owner-occupied finance commitments increased by 1.1 per cent. This increase is the similar to that of the last four months. If refinancing is excluded, in trend terms for December, the number of owner-occupied finance commitments increased by 0.5 per cent – the eighteenth consecutive month of increases.

REIA President, Neville Sanders said “increases were recorded in all states except Western Australia with the Australian Capital Territory having the largest increase of 1.6 per cent. Western Australia fell by 0.3 per cent.”

“In trend terms, the number of new dwellings purchase commitments increased by 1.3 per cent while new dwelling construction increased by 1.0 per cent and the purchase of established dwellings increased by 1.0 per cent.”  Click HERE  for Media release