Property - Market watch

In June, owner occupied finance fell 3.9 per cent from the month prior, according to the ABS.

Building approvals were down in June by 3.3 per cent overall, according to the ABS, with private housing development hit the hardest.

But these factors do not mean that property market growth will continue to slide in the months to come. In fact, there are a few positive signs that indicate that some areas will be on a steady growth path in the 12 months to come.

Westpac senior economist Andrew Hanlan said the latest slump in price growth has been "expected" in the wake of the RBA's interest rate normalisation strategy and the recent dip in consumer confidence.

Westpac's consumer sentiment index in August showed renewed consumer confidence, with a reading of 119.2 compared to 113.1 in July.

Further, the RBA's decision to hold the cash rate since May, strong population growth and strong employment growth are sure to continue to boost consumer confidence and borrowing over the months to follow.

While lending figures dropped off in the upgrade and investor sectors in June, overall there's been an aggregate increase over the past months, indicating a steady upswing.

Investor numbers fell in June by 3.6 per cent, but since January 2009 lending to investors has actually risen by 29 per cent.

And further gains can be expected in response to strong rental income growth, particularly in the unit sector.

Units have continued to eclipse house growth by an average of 0.3 per cent over the last five years and gross rental yields have remained remain strong at 4.8 per cent (4.0 per cent for houses).

MORTGAGE INDICATORS

LENDING FOR HOUSING - SEASONALLY ADJUSTED
June 10: $13.386 billion
Change from May 10: Decreased by 1.0%
Change from June 09: Decreased by 22.4%

AVERAGE NEW OWNER OCCUPIER HOME LOAN
June 10: $285,300
Change from May 10: Increased by 1.3%
Change from June 09: Increased by 7.9%

FIXED RATE LOANS AS PERCENTAGE OF OWNER OCCUPIER LOANS
June 10: 3.4%
Change from May 10: Decreased by 0.1%
Change from June 09: Decreased by 4.6%

FIRST HOME BUYERS AS PERCENTAGE OF OWNER OCCUPIER FINANCE COMMITMENTS
June 10: 16.0%
Change from May 10: Decreased by 0.2%
Change from May 09: Decreased by 11.1%

Source: ABS

BUILDING APPROVALS

TOTAL DWELLING UNITS APPROVED
June 10: 13,267
Change from May 10: Decreased by 3.3%
Change from June 09: Increased by 13.2%

TOTAL PRIVATE SECTOR HOUSES APPROVED
June 10: 8,620
Change from May 10: Decreased by 3.3%
Change from June 09: Increased by 13.2%

TOTAL PRIVATE SECTOR OTHER DWELLINGS APPROVED
June 10: 3,890
Change from May 10: Increased by 2.7%
Change from June 09: Increased by 57.6%

Source: ABS

PROPERTY LATEST FIGURES

BRISBANE
Median house price: $475,000
Quarterly growth: 2.15%
Annual growth: 9.33%
Average annual growth: 11.28%
Median weekly rent: $365
Gross rental yield: 4.00%

Median unit price: $380,000
Quarterly growth: 1.33%
Annual growth: 6.10%
Average annual growth: 8.27%
Median weekly rent: $350
Gross rental yield: 4.79%

SYDNEY
Median house price: $590,000
Quarterly growth: 6.26%
Annual growth: 16.30%
Average annual growth: 8.34%
Median weekly rent: $450
Gross rental yield: 3.97%

Median unit price: $445,000
Quarterly growth: 4.71%
Annual growth: 10.53%
Average annual growth: 5.39%
Median weekly rent: $410
Gross rental yield: 4.79%

CANBERRA
Median house price: $550,000
Quarterly growth: 3.87%
Annual growth: 13.04%
Average annual growth: 11.79%
Median weekly rent: $460
Gross rental yield: 4.35%

Median unit price: $420,000
Quarterly growth: 0.00%
Annual growth: 9.27%
Average annual growth: 11.42%
Median weekly rent: $395
Gross rental yield: 4.89%

MELBOURNE
Median house price: $490,000
Quarterly growth: 6.52%
Annual growth: 17.72%
Average annual growth: 9.98%
Median weekly rent: $350
Gross rental yield: 3.71%

Median unit price $425,000
Quarterly growth: 3.66%
Annual growth: 14.57%
Average annual growth: 8.89%
Median weekly rent: $330
Gross rental yield: 4.04%

ADELAIDE
Median house price: $405,000
Quarterly growth: 1.25%
Annual growth: 7.93%
Average annual growth: 11.07%
Median weekly rent: $310
Gross rental yield: 3.98%

Median unit price: $340,000
Quarterly growth: 3.82%
Annual growth: 8.64%
Average annual growth: 11.91%
Median weekly rent: $270
Gross rental yield: 4.13%

PERTH
Median house price: $500,000
Quarterly growth: -1.19%
Annual growth: 11.36%
Average annual growth: 12.59%
Median weekly rent: $380
Gross rental yield: 3.95%

Median unit price: $425,000
Quarterly growth: 0.95%
Annual growth: 12.57%
Average annual growth: 12.78%
Median weekly rent: $325
Gross rental yield: 3.98%

DARWIN
Median house price: $530,000
Quarterly growth: 2.42%
Annual growth: 16.28%
Average annual growth: 11.51%
Median weekly rent: $510
Gross rental yield: 5.00%

Median unit price: $390,000
Quarterly growth: -5.34%
Annual growth: 15.63%
Average annual growth: 9.37%
Median weekly rent: $410
Gross rental yield: 5.47%

Source: RP Data - Based on repeat sales indices