The latest Australian Household Consumer Intention Index released by the Commonwealth Bank of Australia shows that in June, the Australian household purchasing intention index rose by 6%, close to the level of March this year, when Sydney and Melbourne house prices rose by 13% and 12% respectively.
The Commonwealth Bank’s data also showed that the Australian home purchase intention index was close to a historical high in March, but due to the government’s travel restrictions imposed by the new crown epidemic, the Australian home purchase intention index fell sharply in April.
Stephen Halmarick, chief economist at the Commonwealth Bank, said that the main reason for the rebound in the home purchase intention index in June was low interest rates and the restart of some of the Australian economy. He explained that the number of new mortgage applications received by the Commonwealth Bank has increased significantly, indicating that mortgage customers intend to make full use of the favorable opportunity of low interest rates to apply for mortgages and purchase real estate. Although the new crown epidemic in Victoria has repeatedly appeared and Melbourne has re-entered a state of isolation and isolation, which has caused market concerns, data from June shows that Australians’ intention to buy houses is steadily recovering.
