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The value of housing finance activity declined again in May, figures from the ABS revealed today.
The value of total dwelling commitments fell 6.1 per cent from April to $18.141 billion, seasonally adjusted, driven by a 5.7 decrease in owner-occupied housing commitments and 6.8 per cent drop in investment housing.
The number of owner-occupied housing commitments fell most significantly during the month by 7.9 per cent, seasonally adjusted– the largest decline in eight years.
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Non-bank lenders experienced a 17.9 per cent decrease in owner occupied financing while the number of housing loans financed by banks decreased 6.3 per cent.
Published: 09-07-08
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