It is a relatively quiet week for local data, with the main release the housing finance data for February. A flat result is expected.
In recent months, there has been a cooling in demand for new housing finance with a loss of momentum in the value of loans for investment purposes. The tightening in lending rules for investors is clearly starting to bite. Finance for owner-occupiers has been broadly flat over recent months as the overall housing market continues to slow under the weight of record household debt levels, weak wages and incomes growth and what some are terming buyer fatigue in reaction to generally high prices.
Source: CBA
