The Australian Bureau of Statistics recently released updated Housing Finance statistics showing that the number of first home buyer commitments rose in July 2017 as a proportion of total owner occupied housing.
Could this mean that there have been smashed Avocado breakfasts sacrificed all over Australia’s trendy café scene during winter?
In trend terms, the increase equated to .6% of the total dollar value of owner occupied housing finance commitments.
In actual housing numbers, approximately 1244 additional owner occupied homes appeared in the ABS count of housing finance commitments since June 2017: a 2.9% increase.
The increase in dwelling numbers relative to the percentage increase in the quantum of housing finance commitments may suggest house prices have softened in some areas or that a greater deposit is provided thereby reducing the amount of finance required.
Whatever the reason, separate data released by the ABS on the same day showed an increase in spending on café, restaurant and take away food so perhaps the Smashed Avo brekkies haven’t been sacrificed after all….
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