But, in a ray of positive news for the other property market, the number of new home loans offered to owner-occupiers climbed, 0.7 per cent to 51,981 on a seasonally-adjusted basis.
The ABS said the total value of all housing finance offered to homebuyers fell 2.5 per cent from September to October, to $20.46 billion.
The headline isn't supported by the data. Houses cost less. Total value of home loans is down. That, by the way, sounds like a good thing. Unless you are a journalist, I guess.
Also, your "ray of positive" isn't one either, necessarily. According to the ABS report it includes refinancing. All we know is at best people have gotten a better deal on their mortgages, or at worst, took equity out of their homes. They might have bought more homes, but we don't know that. (I assume that's what got the writers all excited.) We don't know what they did. We only know more mortgages were written.
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