Turnover dries up further
There were more weak housing finance figures for March 2019.
UBS reported recently that the turnover of Australia's housing stock is at record lows.
While it's hard to say for sure, there was nothing in these figures to contradict them, given another decline in the number of finance commitments for homebuyers.
That's a negative for consumption, and for social and labour force mobility, not to mention stamp duty take and real estate employment.
ANZ recently reported that average loan sizes were rising again, both for homebuyers and first homebuyers, which suggests that some lower income earners may be missing out on ownership.
For investment loans, the monthly value of loans continued to slide to be 26 per cent lower than a year earlier.
Commonwealth Bank (ASX: CBA) reported in its March 2019 quarter update that its 90-day home loan delinquencies have now been trending higher over the past couple of years, with pockets of stress arising as interest-only loans are reset.
Time to roll out the turtle stock photo again.
