The author has been described by News Ltd as an "iconoclast", "Svengali", a pollie's "economist muse", and "pungently accurate". Fairfax says he is a "Renaissance man" and "one of Australia’s most respected analysts." Stephen Koukoulas concludes that he is "85% right", and "would make a great Opposition leader." Terry McCrann claims the author thinks "‘nuance’ is a trendy village in the south of France", but can be "scintillating" when he thinks "clearly". The ACTU reckons he’s "an enigma wrapped in a Bloomberg terminal, wrapped in some apparently well-honed abs."

Wednesday, June 6, 2012

AFG reports most home loan sales in May in 3 years (charts)

Pretty interesting data out yesterday from Australia's largest mortgage broker, representing 10% of the overall market. AFG recorded their biggest ever month in May with more than $3 billion of loans written in total. In the charts below you can also see that the share of first time buyers and property investors is on the increase while refinancing activity looks to have declined...Combined with the price action in Sydney from mid May onwards there are some partial data here to suggest the market is responding to the rate cuts.