Housing finance trends
Housing finance increased by a further +0.6 per cent in September, following an increase of +2.6 per cent in August, driven by a steady increase in investor lending.
That said, more investors are leaving the market than joining it on a net basis, which isn't helping with the rental supply crisis.
Source: ABS
Lending for the purchase and construction of new homes appears to have stabilised - albeit at 20-year lows - although the threat of a further interest rate hike in November is likely to keep sentiment depressed.
Source: Housing Industry Association, ABS
There's still a decent amount of housing construction in the pipeline, but this looks set to thin out over the next 12 to 18 months.
Although both new and total listings in the housing market have increased a little seasonally as we head into November, the uptrend on both of the below slides is still marginally softer than the norm for this time of year, and stock levels remain very tight.
Source: CoreLogic
Total listings are particularly low in Brisbane, Perth, and Adelaide.
Overall, a modest improvement in housing finance, but apparently little prospect of a recovery for new dwelling supply.
James Foster came in with the deep-dive on the figures here.
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