Home lending finance has risen 1.4% to $16,911 million in April, and total lending is at a record high, the latest lending data from Australian Bureau of Statistics shows.
The total value of owner occupied housing commitments excluding alterations and additions rose 0.4% in trend terms, and the seasonally adjusted series rose 1.4%.
Commercial lending was up 5.8% seasonally adjusted, to $43,802 million, whilst personal finance and lease finance were both down.
Total lent overall – including owner occupied and investment secured lending, refinance, and unsecured – was a record $28.3 billion, seasonally adjusted. The previous highest was $28 billion in February, also seasonally adjusted.
In April, 33% went to secured finance of existing dwellings, 32.5% on investment housing by individuals, 17.3% on refinancing and 6.1% on finance for owner occupied construction.
The Housing Industry Association has also provided its own data for the three months to April. Its seasonally adjusted estimate pointed to a rise in home lending in many parts of the country.
Strongest results were seen in Tasmania where home loans increased 10.7%, while lending was also up 7.5% in South Australia, 6.9% in Western Australia and 5.5% in Queensland.
Victoria and New South Wales posted rises of 5% and 1.1% respectively.
As a percentage of total owner occupier housing finance commitments, first home buyers represented 12.6% of the market in March, declining marginally to 12.3% in April.
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