Housing finance Australia June 2019
The main points as summarised by the BAS in the release:
- In seasonally adjusted terms, lending commitments to households rose 1.3% in June 2019, following a 1.6% fall in May.
- The rise in lending to households was driven by owner occupier dwellings excluding refinancing (up 2.4%) and personal finance excluding refinancing (up 4.9%).
- In trend terms, lending commitments for owner occupier dwellings excluding refinancing fell 0.1% and investment dwellings excluding refinancing fell 0.9% in June 2019.
- There were rises in the number of new lending commitments to owner occupier first home buyers (2.1%) and owner occupier non-first home buyers (0.4%), in seasonally adjusted terms. The number of first home buyers fell 4.6% on June 2018.
- Personal finance excluding refinancing rose 4.9% in seasonally adjusted terms in June 2019 but is down 10.9% from June 2018.
- Lending to households for refinancing fell 2.1% in seasonally adjusted terms, following a 0.2% rise in May 2019.
- In trend terms, the value of lending commitments to businesses rose 1.1% in June and is up 8.2% from June 2018.
Earlier we got PMI data for the construction sector, a very poor result indeed - lowest for six years.
AUD is paying more attention to offshore developments though. Having said that despite a weak CNY mid rate AUD gaining.