Australia's housing market shows signs of recovery as home loans experience a significant shift, reaching positive growth in June 2024. According to newly updated data as of August 2, the indicator for home loans leapt to 0.5%. This is a drastic improvement from the previous month, which saw a decline of -1.9%.
The month-over-month comparison delineates a contrasting scenario where May recorded a sluggish downturn, while June marked a commendable turnaround. As home loan applications and approvals pick up pace, this shift could signal increasing consumer confidence and stabilization within the mortgage sector. Financial analysts will keep a keen eye on upcoming figures to gauge if this upward trend continues into the second half of the year.
