Welcome Guest [Log In] [Register]


Reply
ABS 5609.0 - Housing Finance, Australia, Aug 2013. Home loans fell 4% in August.; Mortgage committments weaker than expected as investors keep first home buyers out of market
Topic Started: 14 Oct 2013, 12:25 PM (613 Views)
Admin
Member Avatar
Administrator

ABS data: http://www.abs.gov.au/ausstats/abs@.nsf/mf/5609.0

Value of dwelling commitments, Total dwellings
Posted Image

No. of dwelling commitments, Owner occupied housing
Posted Image

Quote:
 
AUGUST KEY POINTS

VALUE OF DWELLING COMMITMENTS

August 2013 compared with July 2013:

The trend estimate for the total value of dwelling finance commitments excluding alterations and additions rose 0.5%. Investment housing commitments rose 0.8% and owner occupied housing commitments rose 0.4%.
In seasonally adjusted terms, the total value of dwelling finance commitments excluding alterations and additions fell 1.2%.

NUMBER OF DWELLING COMMITMENTS

August 2013 compared with July 2013:

In trend terms, the number of commitments for owner occupied housing finance rose 0.6%.
In trend terms, the number of commitments for the purchase of established dwellings rose 0.7%, the number of commitments for the purchase of new dwellings rose 0.3% and the number of commitments for the construction of dwellings rose 0.1%.
In original terms, the number of first home buyer commitments as a percentage of total owner occupied housing finance commitments fell to 13.7% in August 2013 from 14.7% in July 2013.
Follow OzPropertyForum on Twitter | Like APF on Facebook | Circle APF on Google+
Profile "REPLY WITH QUOTE" Go to top
 
Admin
Member Avatar
Administrator

Quote:
 
Investors keeping first home buyers out of market

October 14, 2013 - 12:15PM

Historically high levels of investor activity are keeping first home buyers out of the housing market, resulting in a fall in home loan approvals.

The number of home loans approved in August fell 3.9 per cent, the Australian Bureau of Statistics said, weaker than the 2.5 per cent fall economists had expected.

The figures show first home buyers are doing it tough, JP Morgan economist Tom Kennedy said.

But the August fall may be a one-off, Mr Kennedy said.

''We have had a very good run so far this year, seven consecutive positive prints, so today's figure could more or less be consumers taking a breather,'' he said.

''Auction clearance rates are still very high, prices are still moving higher, all the indicators are suggesting that this data will continue to move higher over the coming months.''

Mr Kennedy said one positive sign in the data was the pickup in loans for construction, which increased 2.2 per cent.

The August housing finance approvals fall was the first in seven months.

CommSec chief economist Craig James the housing sector has been strong all year and one month's fall is not that significant.

''It's August data ahead of a September federal election and it may have been a number of buyers were holding off until the election was out of the way,'' he said.

''We've had a bit of a correction in the month of August.

''The auction results over the past weekend in Sydney and Melbourne were reasonably buoyant, there's no anecdotal evidence the housing market is losing pace.''

Read more: http://www.smh.com.au/business/the-economy/investors-keeping-first-home-buyers-out-of-market-20131014-2vhof.html
Follow OzPropertyForum on Twitter | Like APF on Facebook | Circle APF on Google+
Profile "REPLY WITH QUOTE" Go to top
 
Perthite
Member Avatar


Fhb numbers are now going south in WA.
Profile "REPLY WITH QUOTE" Go to top
 
Guest
Unregistered

This is good news. FHBs are holding off from becoming mega mortgage mugs.

I would rather have investors (both local and foreign) holding the basket at these prices.

Also, a consolation for those FHBs who have taken the plunge that average loan size has shown virtually no growth in more than four years.

Perhaps it is an indication that FHBs are not biting at the 95% LVR loose lending bait dangled by the banks.

If the OOs and FHBs largely stay out, it is a ponzi wealth transfer between infestors!
"REPLY WITH QUOTE" Go to top
 
mel
Member Avatar


it might be time for another rate cut soon. I'm sorry Kouks but you are wrong this time
APF - a place where serious people don't take themselves too seriously. There's nothing else like it.
Profile "REPLY WITH QUOTE" Go to top
 
Admin
Member Avatar
Administrator

Quote:
 
New home lending slump a timely warning: Economist

By YIP | October 15, 2013

The latest housing finance data released by the Australian Bureau of Statistics (ABA) shows new home lending slipped back in August.

In seasonally adjusted terms, the total value of dwelling finance commitments – excluding alterations and additions – fell 1.2% from July, 2013.

Housing Industry Association (HIA) senior economist Shane Garrett said the slight decline on July’s result should serve as a ‘timely warning’ against complacency towards Australia’s housing market.

"Compared with 12 months ago, new home lending activity has increased markedly. However, growth has completely stalled over the past six months even though activity was already rather low by historical standards," says Garrett.

"The patchiness we are continuing to see in areas of the home loans market means that another interest rate cut from the RBA before the end of 2013 is important in order to ensure that the market recovery fires on all cylinders.”

In the three months to August, the number of loans to owner occupiers for the construction and purchase of new homes was 13.3% higher than the same period in 2012. The number of loans for the purchase of new homes was 0.6% higher in the three months to August.

In August 2013, the seasonally adjusted number of housing finance commitments (for both new and established owner-occupied housing) increased in NSW (+2.3%), Victoria (+2.2%) and Tasmania (+0.1%). Lending declined by 3.2% in Queensland, 8.6% in South Australia and 1.3% in Western Australia over the same period.

Read more: http://www.yourinvestmentpropertymag.com.au/news/new-home-lending-slump-a-timely-warning-economist-180477.aspx
Follow OzPropertyForum on Twitter | Like APF on Facebook | Circle APF on Google+
Profile "REPLY WITH QUOTE" Go to top
 
1 user reading this topic (1 Guest and 0 Anonymous)
ZetaBoards - Free Forum Hosting
Free Forums with no limits on posts or members.
« Previous Topic · Australian Property Forum · Next Topic »
Reply



Australian Property Forum is an economics and finance forum dedicated to discussion of Australian and global real estate markets and macroeconomics, including house prices, housing affordability, and the likelihood of a property crash. Is there an Australian housing bubble? Will house prices crash, boom or stagnate? Is the Australian property market a pyramid scheme or Ponzi scheme? Can house prices really rise forever? These are the questions we address on Australian Property Forum, the premier real estate site for property bears, bulls, investors, and speculators. Members may also discuss matters related to finance, modern monetary theory (MMT), debt deflation, cryptocurrencies like Bitcoin Ethereum and Ripple, property investing, landlords, tenants, debt consolidation, reverse home equity loans, the housing shortage, negative gearing, capital gains tax, land tax and macro prudential regulation.

Forum Rules: The main forum may be used to discuss property, politics, economics and finance, precious metals, crypto currency, debt management, generational divides, climate change, sustainability, alternative energy, environmental topics, human rights or social justice issues, and other topics on a case by case basis. Topics unsuitable for the main forum may be discussed in the lounge. You agree you won't use this forum to post material that is illegal, private, defamatory, pornographic, excessively abusive or profane, threatening, or invasive of another forum member's privacy. Don't post NSFW content. Racist or ethnic slurs and homophobic comments aren't tolerated. Accusing forum members of serious crimes is not permitted. Accusations, attacks, abuse or threats, litigious or otherwise, directed against the forum or forum administrators aren't tolerated and will result in immediate suspension of your account for a number of days depending on the severity of the attack. No spamming or advertising in the main forum. Spamming includes repeating the same message over and over again within a short period of time. Don't post ALL CAPS thread titles. The Advertising and Promotion Subforum may be used to promote your Australian property related business or service. Active members of the forum who contribute regularly to main forum discussions may also include a link to their product or service in their signature block. Members are limited to one actively posting account each. A secondary account may be used solely for the purpose of maintaining a blog as long as that account no longer posts in threads. Any member who believes another member has violated these rules may report the offending post using the report button.

Australian Property Forum complies with ASIC Regulatory Guide 162 regarding Internet Discussion Sites. Australian Property Forum is not a provider of financial advice. Australian Property Forum does not in any way endorse the views and opinions of its members, nor does it vouch for for the accuracy or authenticity of their posts. It is not permitted for any Australian Property Forum member to post in the role of a licensed financial advisor or to post as the representative of a financial advisor. It is not permitted for Australian Property Forum members to ask for or offer specific buy, sell or hold recommendations on particular stocks, as a response to a request of this nature may be considered the provision of financial advice.

Views expressed on this forum are not representative of the forum owners. The forum owners are not liable or responsible for comments posted. Information posted does not constitute financial or legal advice. The forum owners accept no liability for information posted, nor for consequences of actions taken on the basis of that information. By visiting or using this forum, members and guests agree to be bound by the Zetaboards Terms of Use.

This site may contain copyright material (i.e. attributed snippets from online news reports), the use of which has not always been specifically authorized by the copyright owner. Such content is posted to advance understanding of environmental, political, human rights, economic, democratic, scientific, and social justice issues. This constitutes 'fair use' of such copyright material as provided for in section 107 of US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed for research and educational purposes only. If you wish to use this material for purposes that go beyond 'fair use', you must obtain permission from the copyright owner. Such material is credited to the true owner or licensee. We will remove from the forum any such material upon the request of the owners of the copyright of said material, as we claim no credit for such material.

For more information go to Limitations on Exclusive Rights: Fair Use

Privacy Policy: Australian Property Forum uses third party advertising companies to serve ads when you visit our site. These third party advertising companies may collect and use information about your visits to Australian Property Forum as well as other web sites in order to provide advertisements about goods and services of interest to you. If you would like more information about this practice and to know your choices about not having this information used by these companies, click here: Google Advertising Privacy FAQ

Australian Property Forum is hosted by Zetaboards. Please refer also to the Zetaboards Privacy Policy