12 Jul 2013
Flash: Australian housing improves, RBA cut still on track - NAB
FXstreet.com (Barcelona) - The value of housing finance approvals rose 2.0% in May, with owner-occupied approvals up 2.3% and investor approvals up 1.5%, notes Spiros Papadopoulos, Economist at NAB, "further evidence that the housing sector is improving", Papadopoulos added.
According to the Economist at NAB, "Lower interest rates are supporting house prices, and more recently there have been better signs for dwelling construction." While the RBA noted increased demand for finance from households last week, "the modest pace of improvement is unlikely to discomfort them, and given the softness in the rest of the economy and rising
unemployment, a further cut in August remains on track if the CPI is low on July 24" Papadopoulos believes.
According to the Economist at NAB, "Lower interest rates are supporting house prices, and more recently there have been better signs for dwelling construction." While the RBA noted increased demand for finance from households last week, "the modest pace of improvement is unlikely to discomfort them, and given the softness in the rest of the economy and rising
unemployment, a further cut in August remains on track if the CPI is low on July 24" Papadopoulos believes.