Loan for new homes sink to GFC level

[{"selector":"#anim-9f8b1e5a-c40a-4016-a993-4aa19fb25597 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(4.932693372218877e-15%, 2.5074219883873775e-7%) scale(0.8264462809917356)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] NEW housing loan commitments were down over April, despite ongoing pressures on housing supply including low rental... Read more

[{"selector":"#anim-4318f8b2-212c-4f54-90e4-cf5ce2785f49 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.5527136788005e-15%, 2.528317205966838e-7%) scale(0.8333333333333334)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] According to the latest figures from the ABS, new loan commitments for housing fell 2.9% over April, largely due to... Read more

[{"selector":"#anim-ab552554-5201-4d2e-8893-7d1072081eba [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.5527136788005e-15%, 2.528317205966838e-7%) scale(0.8333333333333334)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] With new borrower-accepted loan commitments for housing now worth $23.26 billion, there has been an annual decline of... Read more

[{"selector":"#anim-9c0e3521-e9b2-49ae-9d28-19eebb267f90 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-3.4034399948172863e-15%, 2.5495635385903583e-7%) scale(0.8403361344537815)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Despite seeing a smaller decline over the month of 0.9%, investor loans in the housing category saw a greater annual decline of... Read more

[{"selector":"#anim-45568878-b897-4a7a-90af-f5223a26bffa [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-3.4034399948172863e-15%, 2.5495635385903583e-7%) scale(0.8403361344537815)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Within the owner occupier category, the value of new loan commitments for the construction of dwellings fell 7.7% to... Read more

[{"selector":"#anim-9c8e3556-b5a0-4d58-816e-40f6ef8d8b71 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.5527136788005e-15%, 2.528317205966838e-7%) scale(0.8333333333333334)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] “The number of loans issued for the purchase or construction of a new home has fallen to a new low,” noted Tom Devitt... Read more

[{"selector":"#anim-7a905568-56ca-4a1b-9e73-8536b85e024b [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(4.932693372218877e-15%, 2.5074219883873775e-7%) scale(0.8264462809917356)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] “The last time so few loans were issued for the purchase or construction of a new home was in September 2008... Read more

[{"selector":"#anim-9fe7f398-2f22-48e7-9e7e-87004e371583 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.5527136788005e-15%, 2.528317205966838e-7%) scale(0.8333333333333334)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] The new loans for the purchase of newly erected dwellings was down 2.9% to $0.98 billion, down 22.3%... Read more

[{"selector":"#anim-bab28696-d0bb-4a64-ad73-9cafc00d9831 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.5527136788005e-15%, 2.528317205966838e-7%) scale(0.8333333333333334)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] New loans for the purchase of existing dwellings were down 3.4% to $11.95 billion, a 23.8% annual decline... Read more

[{"selector":"#anim-4665504c-6204-4543-8639-a267c75dcfda [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.5527136788005e-15%, 2.528317205966838e-7%) scale(0.8333333333333334)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] For first home buyers there was a 2.1% decline in the value of new loan commitments to $3.86 billion, reflecting a 16.4% annual decline... Read more

[{"selector":"#anim-f1867ef6-48a2-41fd-976b-554db94101f6 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-3.4034399948172863e-15%, 2.5495635385903583e-7%) scale(0.8403361344537815)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] “The average loan size for owner occupiers dropped 3.8% m/m to $620k, suggesting either the continuing impact of... Read more

[{"selector":"#anim-853d2c91-762f-41a7-9b37-e1bc29d39530 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-3.4034399948172863e-15%, 2.5495635385903583e-7%) scale(0.8403361344537815)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] NSW saw a 5.1% fall in value of new loan commitments for owner occupier housing, with Victoria down 1.9%, Queensland... Read more

[{"selector":"#anim-295e4ea2-3c3d-4634-8c05-66927ab7c4f1 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-3.4034399948172863e-15%, 2.5495635385903583e-7%) scale(0.8403361344537815)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] “The imbalance between underlying demand and supply has placed a floor under prices. New listings have fallen to... Read more

[{"selector":"#anim-e7f96808-6ebc-4ece-ab53-9f34ad6f7d59 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.5527136788005e-15%, 2.528317205966838e-7%) scale(0.8333333333333334)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] “Whether price growth is sustained over the remainder of 2023 is uncertain. The impact of rising interest rates on... Read more

[{"selector":"#anim-3bfeea03-4b93-4b8d-bdbd-7dfc4607499b [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.5527136788005e-15%, 2.528317205966838e-7%) scale(0.8333333333333334)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] “This still has the potential to trigger a material lift in pressured sales that can offset the current momentum in property prices in... Read more

[{"selector":"#anim-65c1dd36-443f-4b9f-bb44-b328812b40df [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.5527136788005e-15%, 2.528317205966838e-7%) scale(0.8333333333333334)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Meanwhile the value of external refinancing for housing fell 9.2% to $19.3 billion, this after a record high of $21.3 billion in... Read more

[{"selector":"#anim-b2274b08-3bb3-4709-b50d-096e38bb7d0e [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-3.097237566133771e-15%, 2.593145819479401e-7%) scale(0.8547008547008547)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] “There are very long lags in this cycle and the full impact of the RBA’s rate increases are still to fully hit the housing market, let alone the broader economy,” ... Read more

[{"selector":"#anim-1b0dd906-89e4-4805-801c-1c5171abec01 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.5527136788005e-15%, 2.528317205966838e-7%) scale(0.8333333333333334)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] “These low lending numbers reflect a lack of new work entering the pipeline at the same time that population growth is surging.”. Read more

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