Property Loans Up 19 Percent: ABS

Published on August 8, 2024

New loan commitments for housing rose year over year in June, with investor lending growth outpacing owner-occupier growth, Australian Bureau of Statistics (ABS) data showed. According to the ABS, total new housing loan commitments rose 19.1 percent to $29.2 billion, with loan commitments for investor housing surging 30.2 percent to $11.0 billion. New loan commitments for owner-occupier housing climbed 13.2 percent to $18.2 billion. New investor loans surged 56.7 percent in Western Australia, 38.3 percent in South Australia, and 34.5 percent in Queensland. Moreover, new investor loans grew 27.3 percent in New South Wales, and 9.4 percent in Victoria. “Over the past 12 months, New South Wales continued to have the highest average loan sizes for both owner-occupiers and investors. In June, it rose to $780,000 for owner-occupiers and $818,000 for investors,” said Mish Tan, ABS head of finance statistics....

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