Saturday, September 6, 2014

Economic Data remains mixed - RP Data

RP Data reports the following:

Mortgage demand has started to level recently
  • The RP Data Mortgage Index (RMI) shows that mortgage demand has begun to level over the past couple of months.
  • ABS housing finance data shows a similar trend with the market largely driven by upgraders and investors.
Economic data flows remains mixed
  • Population growth is winding down but remains high on an historic basis.
  • Dwelling approvals have shifted much higher over the past year and are at their highest ever level on an annual basis.
  • With population growth slowing and building approvals remaining high (despite the recent fall) we may see a better relationship between approvals and population growth over the coming years.
  • Consumer sentiment has been weak since the Federal Budget but is slowly increasing.
  • The unemployment rate has hit 6.4% with employment growth quite slow.
  • Mortgage rates remain low with banks competing hard for their share of the home loan business.

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