The number of home loans continued to decline in November, as the value of investment-related housing commitments fell to 2013 levels.
The figures recorded during the period generally show that, in terms of trend, the number of financial commitments borne by the owner decreased by 0.2%, the fourteenth consecutive month of decline. If refinancing is excluded, the number of equity commitments held by the owner, in terms of trend, decreased by 0.2%, which represents the lowest level recorded since October 2014 and the 14th consecutive monthly decline.
Declines were recorded in Victoria, New South Wales (NSW) and Queensland, with NSW recording the largest decrease at 0.7%.
Western Australia, South Australia, Tasmania, the Northern Territory and the Australian Capital Territory posted gains, with ACT (2.2%) leading the way in the rise.
The overall decline was caused by another sharp drop in the value of financing by investors, down 1.5% and currently equivalent to that of 2013. According to the president of the Institute of the 39 Australian Real Estate (REIA), Adrian Kelly.
The REIA report shows that the number of fixed housing purchase commitments decreased by 0.1%, while the purchase of new homes decreased by 0 , 6% and new housing construction decreased by 0.9%.
The proportion of first-time homebuyers, in total homeowner-owned housing finance commitments, increased from 18.1% in October to 18.3% in November. The number of loans granted to first-time buyers increased by 3.5%.
Kelly said the continuing decline in housing finance reflects the slowing market, restrictions imposed by the Australian Prudential Regulation Authority (APRA) on investors, the consequences of the Royal Commission on banks and concerns about real estate tax changes and their potential impact. a change of government.
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