Australian housing finance data for July
Home loans m/m,
- expected 1.5%, prior was 1.1%, revised from 1.0%
- For the y/y, down 4%
Investment lending m/m, +1.6%
- prior was -1.0%, revised from -1.4%
- Up 5.7% y/y
- A solid performance (see note below on Macro prudential tightening measures) ... will be disappointing for regulators looking for more slowing in investor activity
Owner-occupied loan value m/m, +0.3%
- prior 2.9%
Macro prudential tightening measures (these were introduced in late March) increased borrowing rates for investor & 'interest only' loans; have also tended to support owner occupier loans. Note ... a second round of mortgage rate increases for interest only loans came through late in the month - should impact in coming months
More:
- Construction-related finance approvals +3.6% m/m (
- Finance for the purchase of newly built dwellings +3.5% m/m
