Housing Finance

Housing finance figures released yesterday showed that it;s still chugging along with a seasonally adjusted increase of 1.1% in June. This is the ninth straight month it has increased. In May the increase was 2.2%

The percentage of first home buyers reduced a little however from 28.5% to 27.1%. Investment lending fell 1.8% after a 2.4% increase in May. A lot of first home buyer borrowing has been brought forward due to the first home buyer grant, which gets cut in half in Sept, so this drop off could continue into the latter months of this year.

NAB Qtly Business Survey for July is due out today.