The latest figures from the Australian Bureau of Statistics show that housing finance increased slightly in September but below the surface the results are very patchy.
The total number of seasonally adjusted loans net of refinancing increased by 1.2% as did (net) loans for established dwellings. The number of loans for the purchase of a new dwelling was up by 9% in September, but the number of loans for construction fell by 6.3%.
The figures also shows that the total number of seasonally adjusted loans for the construction and purchase of new homes increased by 5.1% in New South Wales, by 2.8% in Queensland, by 1.6% in Western Australia, by 28.1% in Tasmania, by 2.9% in the Northern Territory, and by 2.1% in the Australian Capital Territory.
The number of loans fell by 9.1% in Victoria and was down by 11.8% in South Australia.
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