According to new data from the Australian Bureau of Statistics (ABS), the total value of loans to new investors declined by 42% in December from the peak reached in early 2017.
"The latest data now gives us a clearer picture of investors' appetite for real estate, as this series excludes investors who are content to refinance their existing loans. Together, the slowdown in homeowner and investor demand strengthens consumer confidence in the real estate market and confirms that the slowdown is widespread – not only among investors, but also among homebuyers and buyers. " said Robert Mellor, general manager. from Oxford Economics BIS
The seasonally adjusted national number of loans granted by homeowners (excluding refinancing) also decreased by 8% during the month, while loans for old homes declined by 10%, as evidenced by the lower turnover of the real estate market recorded in major cities. to Mellor.
"The downturn in loans for owner-occupied housing is more recent, with falls focusing on the last half of 2018," said ABS chief economist Bruce Hockman.
In seasonally adjusted terms, the value of loans for owner-occupied dwellings, excluding refinancing, decreased in New South Wales (-6.1%) in Victoria (-6.6%). %), Queensland (-9.9%), Western Australia (-6.3%), Australian Capital Territory (-4.9%), Northern Territory (-18.3%) and South Australia (-1%). Tasmania, by contrast, was the only state to reverse the trend, up 4.2% over the month.
Overall, the value of household loan commitments decreased by 4.4% in December, reflecting a significant decline in the value of loans for owner-occupied dwellings and for homeowners. investment housing.
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