Housing Finance falters

March 13, 2012

Australian Economy

Australia continues to labour under the burden of too much debt and nowhere is this more starkly obvious than in housing and for households. Here is a link a new blog which looks like it is dedicated to the type of data analysis we have been able to provide in the past. I have spoken to the blogger and s/he is happy to have these post reblogged at Lighthouse as I see fit.


The Australian Bureau of Statistics released the latest housing finance figures today and they were disappointing however not unexpectedly so. Australia’s housing finance figures had steadily improved over the second half of 2011 which led some to call a turnaround in the housing market which had been under pressure for some time. These calls got louder as the steady decline in house prices appeared to bottom around the turn of the new year. However these calls for a turnaround in the housing market may have been a little pre-mature.

The latest data showed that the number of total housing finance commitments in January fell 1.2% from a month earlier which was twice what the market was expecting while the total value of housing finance commitments fell 2.3%. But what was behind the fall?

Well first of all I must point out why the calls for the turnaround in the housing market…

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