Wednesday 18th January 2017 - 7:50 pm

How prices are moving:ABS

by Alan Thornhill

Australians are still investing confidently in the nation’s housing market.

 

This is shown in figures the Bureau of Statistics published today.

 

These show that the value of these commitments rose by 1.7 per cent last November to a level 4.9 per cent above that seen 12 months earlier.

 

The Bureau regards its trend figures as the most reliable that it produces.

 

These figures also suggest that a large part of the Australian population is reluctant to accept mainly academic predictions of a correction in this market before the end of this year.

 

However the number of homes financed in this way fell by as seasonally adjusted 0.2 per cent in November, but rose by 0.6 per cent over the year.

 

 

However other figures, that the Bureau also produced today, signal a weaker result in Australia’s car market.

 

The trend estimate, for new motor vehicle sales in December, was 0.4 per cent below the December result.


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Alan Thornhill

Alan Thornhill is a parliamentary press gallery journalist.
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