ABS chief economist Bruce Hockman said: “Despite the rebound in lending activity, after a sharp decline in April and May, the amount of housing loan commitments in June still fell by more than 10% compared to March.” Despite the market rebound. , But the fourth phase of restrictions related to the Melbourne epidemic is expected to have a negative impact on Victoria’s income and housing financing activities. CBA senior economic analyst Kristina Clifton said that CBA believes that this month’s data is not a turning point for housing loans, and the Victorian lockdown may put pressure on new housing loans in the coming months.
Although Victorian workers and businesses may suffer the most severe shocks, ANZ’s Adelaide Timbrell and David Plank predict that employment in other parts of Australia will also be affected. ANZ economists said: “This has put downward pressure on the borrowing capacity and risk appetite of many buyers.” The increase in owner-occupied loans was mainly concentrated in Queensland and NSW, while Victoria declined.
ABS’s monthly statistics also show that new construction loan commitments increased by 57.3% in June to 3.1 billion Australian dollars. Hockman said: “The construction of non-building structures and non-residential buildings in June led to a substantial increase in commercial construction loans.”
https://www.yourmortgage.com.au/mortgage-news/home-loan-commitments-recover-in-june/272787/