PriyaPatelTLDR: Despite the increase in mortgage interest rates, demand for Australian housing remains strong, with the value and number of new loans rising in November.
The value of new owner-occupier dwelling loan commitments increased by 0.1% in November, while the number of loans being written rose by 1.0%.
The solid demand for housing finance suggests that the Australian economy is experiencing a soft landing.
This is good news for the Australian economy, as the housing sector has been a key driver of growth in recent years.
However, there are concerns about the strain on household budgets due to the high levels of debt and rising interest rates.
Despite these concerns, the pipeline of new market entrants in the housing market remains solid.
This suggests that there is still strong demand from first-time buyers and investors despite the challenges in the market.
