Of course monthly data doesn't keep rising in a straight line, and in fact housing finance data looks pretty robust.
Over the past decade the median house price in Australia has increased by around 4.8 percent per annum and the median unit price about 4.2 percent each year, so it hasn't been great advice to date.
Moreover, if you don't look at the monthly housing finance data in its broader context, you will continue to misinterpret it, as pundits have been doing continually for the past decade. Let's take a quick look in just a small amount of further detail below in five very short parts.
Part 1 - Macro picture
There were 51,787 owner occupier commitments written in August, down from 52,251 in August.
Is the trend rolling over? It might well be, yes, although that figure remains 5 percent higher than a year ago. It seems that we may well now be seeing a rotation towards Queensland which we will explore in a little more below (click charts to expand).
Part 4 - New homes