Due at 0030 GMT from Australia

Home loans m/m

  • expected -1.0%, prior was 2.1%

Investment lending m/m

  • prior was 1.5%

Owner-occupied loan value m/m

  • prior was 2.7%

Via ANZ:

  • We believe the number of owner-occupier housing finance commitments fell marginally in December, offsetting some of the previous month's rise. The broad cooling in the housing market is likely to weigh on new finance approvals.
  • Within the details we will be paying attention to finance for the construction or purchase of new housing, to help assess whether the sharp drop in building approvals in December is likely to be sustained.

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Via Westpac:

Finance approvals have held up much better than expected through 2017, the most recent figures showing a 2.1% rise in the number of new owner occupier loans in Nov and a 1.5% rise in the value of investor loans.

  • The latter are down -8.3%yr but the total value of finance approvals is up 4%yr despite auction activity, turnover and price growth all showing a material slowdown in the major eastern markets.

Industry figures point to a softer month for owner occupier approvals some - Dec is expected to show a 1.5% decline.

  • However, the general picture is still better than might have been expected given macro-prudential measures and a similar sized slowdown in 2015, which saw the total value of loans fall 13% peak to trough. It may indicate that weaker foreign buyer demand had a bigger hand in the 2017 slowdown.