GROWING THE SOUTH-WEST | Housing-finance numbers are on a ‘slippery slope’

Generic image. Picture: Mastersenaiper, Pxabay
Generic image. Picture: Mastersenaiper, Pxabay

ABS housing-finance figures released in December show the number of owner-occupied commitments fell by 0.1 per cent, the 13th consecutive month of falls. Excluding refinancing, it’s the lowest since November 2014.

Investment housing fell by 1.9 per cent in October. Funds approved for buying homes by individuals for rent or resale are at their lowest since June 2013.

New-home purchases fell by 1.5 per cent, new-home building fell by 0.5 per cent. The continued drop reflects a slowing market, APRA restrictions on investors which went too far for too long, the Banking Royal Commission fallout and concerns about property tax if there’s a change in government.

MALCOLM GUNNING

President, Real Estate Institute

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