![ScreenHunter_06 May. 06 09.27](https://www.macrobusiness.com.au/wp-content/uploads/2014/08/ScreenHunter_06-May.-06-09.271.gif)
Today’s housing finance data for June confirmed that buyer demand for newly constructed dwellings remains strong, with approvals hitting their highest level since November 2009 (see next chart).
![ScreenHunter_3694 Aug. 08 12.46](https://www.macrobusiness.com.au/wp-content/uploads/2014/08/ScreenHunter_3694-Aug.-08-12.46.jpg)
The number of finance commitments for new dwellings (i.e. construction plus new) rose by a seasonally-adjusted 2.2% in June to be up 10.3% over the year and tracking some 17% above the 5-year moving average level (5YMA). Despite the current ‘boom’ so far being smaller than the post-GFC episode (which was fueled by significant first home buyer stimulus), it does at least appear to be more enduring, which is good news (see next chart).
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![ScreenHunter_3695 Aug. 08 12.48](https://www.macrobusiness.com.au/wp-content/uploads/2014/08/ScreenHunter_3695-Aug.-08-12.48.jpg)