ACB News “Australian Finance Online” June 10th data released by the Australian Bureau of Statistics (ABS) shows that after seasonal adjustments, Australia’s new home loan amount in April was 18.6 billion Australian dollars, a decrease of 4.8% from the previous month, creating a May 2015 The highest decline since a 7.4% drop.
Data show that in April, new housing loans fell by 5%, the highest drop since May 2015 when it fell by 6.1%. Investment mortgages fell 4.2%, the largest decline in 17 months. In addition, the first home mortgage fell by 1.9% month-on-month in April.
BIS Oxford Economics economist Maree Kilroy said that with the gradual lifting of the new crown epidemic restrictions, housing loans will increase in the coming months. But JP Morgan economist Tom Kennedy is not so optimistic. He said that the unemployment rate in 2020 is expected to be higher than the level before the new crown epidemic, which will adversely affect the scale of housing loans in the second half of this year.
