The number of housing finance commitments continued to improve in December, rising 8.7% over the quarter according to the seasonally adjusted series from the ABS released this week. The adjusted figures for December were the highest since March 2010; a strong sign that a degree of health is returning to the housing market; at least [...]
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Finance approvals increase along with values in November…better times ahead?
The volume of housing finance commitments to owner occupiers increased for the eighth consecutive month in November, up 1.4% over the month and 4.6% over the year. Of course, from a housing market perspective it is important to separate owner occupier commitments for refinances and non-refinances. Refinances create business for banks and mortgage brokers whereas [...]
More home loans for less
The Australian Bureau of Statistics (ABS) released housing finance data for the month of September this week and in this week’s blog post we are going to dissect what is happening with average loan amount being committed to by borrowers. On an annual basis, the average loan size fell by -0.6% over the 12 months [...]
Mortgage delinquencies on Residential Mortgage Backed Securities (RMBS) rise over the past year according to Moodys
Ratings Agency Moody’s released their annual Mortgage Delinquency Report this week which showed delinquencies have increased over the year as consumer confidence dipped, property values fell and global economic conditions weakened. According to the report, the analysis in this report was performed on over $117.6 billion worth of mortgages which are included in Moody’s-rated residential [...]
An uplift in buyer activity may be just around the corner
The housing finance data released by the Australian Bureau of Statistics each month generally provides a reasonable insight into how demand is tracking across the Australian housing market. To put it simply, most people buying a home need to obtain finance. The trend in housing finance commitments, which is collected by APRA and covers at [...]
Fixed vs Variable… the vast majority prefer to move with the market.
Over the past few months there has been a great deal of speculation about interest rates and whether we are likely to see another rate rise from the Reserve Bank any time soon. Prior to the most recent RBA meeting, most economists were tipping an August rate rise. The first Tuesday of August is when [...]
Dwelling commencements slow during December 2010 quarter but way up on 2009 volumes
The number of dwellings commenced during 2010 was recorded at 169,428. This represented an increase of 22.4% over the calendar year, the largest since they rose by 27.2% during 2002. With almost 170,000 dwelling commencements last year, it was a substantial improvement from around 138,000 commencements in 2009. On an annual basis, there has been [...]
Soft housing finance data reflects the overall consumer conservatism across the country
The housing finance data released by the ABS for the December quarter this week highlight some interesting trends in the Australian housing market. The ‘broad brush’ overview is that owner occupier loans are showing a small improvement due to increasing non-first home buyer activity, first home buyers are remaining on the sidelines and the value [...]
First home buyers most attracted to jobs rather than affordability
The housing finance data released by the Australian Bureau of Statistics on Oct 11 shows that first home buyer demand has remained weak. During August the number of home loans taken by first time buyers was just 7,460. Volumes hadn’t been that low since Feb 2005. As a proportion of the overall owner occupier market, [...]
Renovation activity likely to increase
With the rate of property value growth slowing, sales volumes falling and construction of new housing continuing to soften we wouldn’t be surprised to see an increase in the number of homes undergoing renovation over the coming months. Renovation activity comes in many shapes and sizes and includes; ‘major’ renovations where owners add additional rooms [...]
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New mortgage commitments setting the scene for improved buying activity
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100 suburbs with the highest gross value of home sales
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The gap between variable and fixed interest rates has just passed a historic peak. Is it time to fix?
- 100 suburbs with the highest gross value of home sales | ljgrealestate: [...] Link: http://blog.rpdata.com/2012/02/100-sub...
- Is it time to fix rates? | Calibre Real Estate: [...] Source: Tim Lawless, RP DATA blog [...]...
- The gap between variable and fixed interest rates has just passed a historic peak. « bakerbruce: [...] HERE to view the full report from RP Data Sh...
