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AUD: Housing finance rose 2.9% in August - TDS

FXStreet (Delhi) – Annette Beacher, Chief Asia-Pac Macro Strategist at TD Securities, notes that the Australian housing finance data posted a growth of 2.9% in August but investor finance fell by 0.4% during the same period.

Key Quotes

“Gain was led by owner-occupiers at +6.1% (TD 6%, mkt +4.7%) with investor finance falling –0.4%, also good news, as shows that the APRA macroprudential measures are biting the right part of the market.”

“Owner-occupied finance annual growth jumps to 26.5% ... (1) the highest since October 2009 and (2) double that of investor growth at +12%/yr). No need to cut rates to stimulate housing at this juncture.”

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