GENERAL NEWS
HOME lending fell by 4.1% in December, although finished higher over the course of 2023, and while the lending market may be lifted after the latest inflation data...
Data from the Australian Bureau of Statistics showed owner occupier loan commitments fell 5.6% month-on-month, to $16.77 billion, while investor loans...
Loans for the purchase of existing dwellings fell 6.6% to $12.89 billion, to end 2023 9.1% higher than at the close of 2022...
Construction of dwellings loans were down 0.5% in December, and 7.4% lower year-on-year, and loans for new homes dipped 2.5% over the month, and 1.9% higher year-on-year...
Canstar’s lending expert, Steve Mickenbecker said the decline in inflation for the December quarter – which showed a fall to a lower-than-expected 4.1% – should lift the...
Maree Kilroy, senior economist for Oxford Economics Australia that while interest rates have likely reached their peak this hiking cycle, housing affordability has...
“However, persistent undersupply of housing is expected to place a floor under prices before rate cuts from late this year see growth accelerate in 2025.”...
The lending data follow last week’s official numbers showing dwellings approvals tanked by 15.4% in 2023, to 162,194, a number not seen in a decade...
Master Builders Australia CEO Denita Wawn said that to hit the National Housing Accord’s target of building 1.2 million new homes over five years “the volume of new home...
“The ABS has unveiled a comprehensive snapshot of economic indicators this week, painting a troubling picture for the nation’s housing landscape,”...
“With the release of data on inflation, building approvals, lending indicators, and building materials prices, it’s evident that the trajectory is veering off course,...
“The figures for December highlight the fact that the demand side of the new home building market is struggling at the same time as obstacles on the supply...
The producer price index lifted 0.3% in the December quarter, meaning building materials are no 33.5% more expensive than before the pandemic. Costs pressures over...
“Combined with continued labour supply pressures, the resumption of building materials price rises is likely to frustrate efforts to expand the stock of new homes,”...