Housing loans have recovered some momentum after the declines of the post-pandemic rapid-interest-rate-rise period.
Australian Bureau of Statistics figures, released today, show small increases in loans for investors and home-owners in February 2024.
While the trend line remains relatively flat, in February new investor loans sat 21.5% higher than a year ago.
These investor loans represented half of the total growth in new loan commitments over the year.
“The value of new owner-occupier loans was 9.1 percent higher compared to a year ago, while the value of owner-occupier first home buyer loans was 20.7 per cent higher over the same period,” the ABS said.
“The total value of new housing loans to investors rose 1.2 per cent in February 2024 (and) the total number of new owner-occupier loans rose 0.9 percent.”
The February gains were particularly strong in owner-occupier first home buyer loans, which rose 4.3 percent and were 13.2 percent higher over the 12 months.
Queensland had the highest percentage lift in owner-occupier loans of any state at 7.4 percent month-on-month, well above the national average of 1.6 percent.
The state also had the largest change in investor loans at 2.6 percent, compared to the national average of 1.2 percent.
