- Home Loans data for June 2.7%m/m (vs. expected of 2.0%, and prior of 1.7%, revised from 1.8%)
- Investment Lending for June -0.5%m/m (vs. prior of 1.1%, revised from 1.5%)
- Owner-Occupier Loan Value for June 2.1%m/m (vs. prior of 2.2%, revised from 2.3%)
The RBA are looking for a ‘transition’ from mining investment to other sectors of the economy, like housing construction. This data is a bit of a mixed bag, the headline figure is better – AUD/USD showing little response, though.
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From the ABS report:
- the number of first home buyer commitments as a percentage of total owner occupied housing finance commitments rose to 15.1% in June 2013 from 14.6% in May 2013.
- n trend terms, the number of commitments for the purchase of established dwellings rose 2.1%, the number of commitments for the purchase of new dwellings rose 1.8% and the number of commitments for the construction of dwellings rose 0.9%
- The trend estimate for the total value of dwelling finance commitments excluding alterations and additions rose 1.2%. Owner occupied housing commitments rose 1.5% and investment housing commitments rose 0.7%.
- In seasonally adjusted terms, the total value of dwelling finance commitments excluding alterations and additions rose 1.2%.
