RESIDENTIAL PROPERTY
HOUSING finance fell again over December, in the eleventh consecutive decline bringing lending down 31% from its January 2022 peak.
According to the latest data from ANZ Research, housing lending excluding refinancing was down 4.3% in December 2022, following a 4.2% decline in the previous month.
The drop in lending was similarly felt for both investors and owner occupiers, at 4.4% m/m and 4.2% m/m respectively.
Despite these declines, total lending for investors and owner occupiers alike is still sitting far above levels seen across 2018 and 2019.
“We expect another 75bp of cash rate hikes this year, which will reduce borrowing capacity and ...
Adelaide Timbrell, report author and senior economist at ANZ Research.
With house values seeing a sharp fall over December and January, down 1.1% m/m and 1.0% m/m respectively according to...
Despite these falling home prices, over December first home buyer lending was down 4.6% compared to the previous month.
“Strong net migration through 2023 is expected to limit the ultimate fall in lending by increasing housing demand and...