Mortgage market picking up led by NSW: RP Data monitor

Mortgage market activity picked up across the country in April led by NSW, the latest RP Data figures show.

There was also a strong pick-up in activity in Queensland, WA, Victoria and Tasmania.

The figures are a lead indicator of official housing finance data, coming out around six weeks ahead of ABS figures.

RP Data systems monitor more than 100,000 mortgage activity events every month across four main finance industry platforms.

The index shows an 81% correlation with the ABS housing finance data series (88% using the seasonally adjusted series).