Analysts at Australia and New Zealand (ANZ) banking group offer their views on the Australian housing sector in the coming months.
“Housing lending fell 4.4% m/m in June, with declines across owner-occupier lending (-3.3% m/m) and investor lending (-6.3% m/m).”
“Residential building approvals fell just 0.7% m/m in June, barely reversing any of the very strong revised uplift in May of +11.2% m/m. After a jump of 34.6% m/m in May, a fall in unit approvals (-5.7% m/m) drove the June decline.”
“We expect rising interest rates and high inflation to push down demand for home building and borrowing in the coming months.”