House Price Growth Slowing

October 21, 2014
Wayne Smith

Reserve Bank of Australia board members have noted the ongoing strength in the housing market, but sense momentum is slowing.

RBA October board minutes included;

  • Dwelling investment had increased by more than 8% over the year to the June quarter.
  • House price growth had been a little slower, on average, over 2014 than in late 2013.
  • Over the previous six months, overall housing credit growth had been steady at around 7% in annualised terms, but members noted that growth of investor credit had increased to close to 10%.
  • Growth in dwelling investment had been strong.
  • Mining and non-mining business investment in aggregate had fallen over the year.
  • Unemployment rate in August had retraced the sharp rise recorded in July to be close to 6 per cent.
  • Forward-looking indicators had picked up a little, but still pointed to only modest employment growth over the coming months.

 

Now is a perfect time for a Free Home Loan Health Check.

 

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Posted in: Property market

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