The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
FIRST RELEASE TICKETS ON SALE FOR URBANITY-25 CONNECTING PROPERTY LEADERS ACROSS THE ASIA PACIFIC
FIRST TICKETS ON SALE FOR URBANITY-25 WHERE THE PROPERTY INDUSTRY CONNECTS
SEE DETAILSDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Partner Lab
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
FinanceMon 09 Sep 19

Home Loan Lending Strongest in Five Years

2c9f1663-9b9f-4e6c-9b9a-2f97e8c9d07b

Demand for mortgages is starting to rise reveals the latest Australian Bureau of Statistics figures.

Up to $26.5 billion worth of housing finance commitments were made in July this year, marking the second consecutive month of increases.

ABS chief economist Bruce Hockman said growth in new lending commitments to households in July was the strongest since October 2014.

“For the second month in a row there were particularly strong increases in the level of new lending commitments for owner occupier and investment dwellings,” Hockman said.

“Despite this recent turn-around both series remain down from their respective peaks in 2017.”

Related: Housing Market Wrap Up: Auctions, Approvals And GDP

The value of new lending commitments to households increased 3.9 per cent in July 2019, seasonally adjusted, according to the ABS figures on new lending to households and businesses released Monday.

The rise in new lending to households follows a 1.9 per cent increase in June 2019.

And after a noticeable withdrawal from the market, new loans to investors were up almost 5 per cent on the month prior.

Corelogic’s Cameron Kusher said most of the increase in lending was coming from new lending rather than refinances of existing loans, with $26.5 billion in housing finance split between $19.3 billion to owner-occupiers and $7.2 billion worth of commitments to investors.

“For both owner-occupiers and investors it was the second successive month in which the value of lending has increased,” Kusher said.

“The $19.3 billion worth of commitments to owner-occupiers was the greatest value since November 2018 and the $7.2 billion in commitments to investors was the greatest since December 2018.”

After a slump, national dwelling values have been increasing since May this year.

Australia’s largest housing markets have begun to pick up, with an acceleration in the rate of growth in Sydney and Melbourne dwelling values.

ResidentialAustraliaBrisbaneMelbournePerthAdelaidedo not useFinanceReal EstateSector
ADVERTISEMENT
TOP STORIES
Exclusive

Gold Coast’s Greatest Moments Yet to Come: Evan Raptis

Phil Bartsch
7 Min
MODEL founder Rory Hunter HERO
Exclusive

‘It’s Massive’: On Mission to Prove BtR Green Equals Gold

Leon Della Bosca
8 Min
Potts Point Coliving EDM
Exclusive

Co-Living Shrugs Off Stigma as Overseas Money Moves In

Clare Burnett
6 Min
Bankstown cbd in Sydney NSW EDM
Exclusive

Breaking Delivery Crisis Chokehold on NSW’s Biggest Housing Market

Vanessa Croll
7 Min
Healthscope Hospital EDM
Exclusive

‘Once-in-a-Decade’ Opportunities Rise in Wake of Healthscope Collapse

Clare Burnett
7 Min
View All >
Sponsored

Innovation That Works: Solving Real-World Fitout Challenges

Partner Content
Fieldwork and MALA's rendering of the mixed-use project by MAKE next to Murrumbeena Train Station in Melbourne's southern suburbs.
Affordable & Social Housing

Murrumbeena Scheme Wins Minister’s Backing

Marisa Wikramanayake
Rose Bay supersite EDM
Residential

How 12 Eastern Sydney Homes Became a $165m Supersite

Vanessa Croll
A newly zoned parcel in one of NSW priciest suburbs shows what’s now possible under the state’s medium-density overhaul…
LATEST
Interiors

Innovation That Works: Solving Real-World Fitout Challenges

Partner Content
3 Min
Fieldwork and MALA's rendering of the mixed-use project by MAKE next to Murrumbeena Train Station in Melbourne's southern suburbs.
Affordable & Social Housing

Murrumbeena Scheme Wins Minister’s Backing

Marisa Wikramanayake
2 Min
Rose Bay supersite EDM
Residential

How 12 Eastern Sydney Homes Became a $165m Supersite

Vanessa Croll
4 Min
Residential

Villawood Breaks Ground on Debut Redland Bay Project

Lindsay Saunders
2 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/-mortgage-lending-lifts