Home Loans data arrives in line with expectations, -1.0%

The Australian Bureau of Statistics has arrived with the latest Home Loans data. 

• Australia Home Loans (Month/Month) May: -0.1% (est -1.0% ; prev -1.1%).
• Australia Investment Lending May: -1.7% (est 0.5% ; prev -2.2%).
• Australia Owner-Occupier Loan Value (Month/Month) May: -2.7% (est 0.0% ; prev 1.0%).

"Australia’s housing market remains a hot topic but there should be limited interest in May housing finance approvals given that the month includes a surprise federal election result where tax breaks on investment housing were proposed and of course pre-dates two RBA rate cuts," analysts at Westpac explained.

About The Home Loans

The Home Loans released by the Australian Bureau of Statistics presents the number of home loans. It indicates the housing market trend in Australia and a level of consumer confidence as large housing loans are taken out. A high reading is seen positive (or bullish) for the AUD, while a low reading is seen negative (or bearish).