Housing finance data from Australia for July 2019.
Home loans for July: +4.2% m/m
- expected +1.5%
- prior +0.4%
More:
- value of lending for owner occupier dwellings +5.3%
- for investment dwellings +4.7%
- number of loans to owner occupier first home buyers rose for the fourth consecutive month
- rise in the number of loans to non-first home buyers (up 4%) for the first time in seven months
- Personal finance fell 2.6 per cent in July following a 5.0 per cent rise in June and was down 8.9 per cent on July 2018
- In trend terms, the value of new lending commitments to businesses fell 1.3 per cent in July but was up 1.5 per cent since July 2018
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Rise in July follows
- back to back rate cuts from the RBA(June and July)
- getting the election out of the way and the uncertainty associated with it
- government tax cut
- an easing in lending restrictions
