Australia: Housing finance fell -4.2% in July - TDS

Research Team at TDS, notes that the Australia’s housing finance fell -4.2% in July (vs -1.5%) consistent with the Banker’s (ABA) survey showing a -4.3% drop.

Key Quotes

“Given this survey has been a little volatile recent compared with the ABS survey, most analysts took the negative sign but not the magnitude.  Given today’s data was pre the RBA rate cut (and not much was passed on) we need to see results for Aug/Sep before we get worried about housing.”