Actions and not just words are beginning to show that confidence really is returning. Figures out from the Australian Bureau of Statistics this morning show the value of commitments for the purchase of dwellings by individuals for rent or resale (trend) increased 2.0% in May 2009, following a revised increase of 1.8% in April 2009. The seasonally adjusted series rose 0.8% in May 2009.
Housing finance for owner occupation continued to be strong, increasing 3.0% in trend terms in May compared to April with the seasonally adjusted series rose 2.3%.
