Housing loans rose again in August

Media Release

Released

4/10/2024

Source

Lending indicators, August 2024

The monthly Lending Indicators publication will transition to a quarterly release in late 2024.

The final monthly publication will be released on 1 November 2024 for the September 2024 reference period. The first quarterly publication will be released in February 2025 for the December Quarter 2024 reference period.

More information is available in Lending Indicators, Australia.

Housing Finance

The total value of new housing loans rose 1.0 per cent in August to $30.4 billion, according to data released today by the Australian Bureau of Statistics.

Mish Tan, ABS head of finance statistics, said: “The value of new investor loans rose 1.4 per cent to $11.7 billion, 34.2 per cent higher than August 2023 and close to the previous peak in January 2022.”

The value of owner-occupier loans rose 0.7 per cent to $18.7 billion, 16.8 per cent higher than August 2023.

Monthly value of new loan commitments for housing (excluding refinancing) - seasonally adjusted
	Total ($b)	Owner-occupiers ($b)	Investor ($b)
Aug-14	19.660	10.997	8.663
Sep-14	20.010	11.113	8.897
Oct-14	20.553	11.402	9.151
Nov-14	20.135	11.02	9.115
Dec-14	20.448	11.356	9.092
Jan-15	20.705	11.538	9.167
Feb-15	20.190	11.297	8.893
Mar-15	21.231	11.72	9.511
Apr-15	21.914	11.829	10.085
May-15	20.297	11.13	9.167
Jun-15	21.131	11.983	9.148
Jul-15	21.136	12.309	8.827
Aug-15	21.773	13.266	8.507
Sep-15	20.974	13.57	7.404
Oct-15	20.008	13.134	6.874
Nov-15	19.685	13.021	6.664
Dec-15	19.605	12.908	6.697
Jan-16	19.106	12.513	6.593
Feb-16	19.403	12.711	6.692
Mar-16	19.084	12.433	6.651
Apr-16	19.684	12.788	6.896
May-16	19.959	12.754	7.205
Jun-16	20.197	12.697	7.5
Jul-16	20.101	12.463	7.638
Aug-16	19.900	12.307	7.593
Sep-16	20.822	12.487	8.335
Oct-16	21.177	12.59	8.587
Nov-16	21.570	12.723	8.847
Dec-16	22.007	13.101	8.906
Jan-17	22.142	13.155	8.987
Feb-17	21.866	13.227	8.639
Mar-17	22.549	13.681	8.868
Apr-17	22.222	13.605	8.617
May-17	22.437	14.03	8.407
Jun-17	22.104	13.963	8.141
Jul-17	22.157	14.281	7.876
Aug-17	22.479	14.535	7.944
Sep-17	22.240	14.383	7.857
Oct-17	21.619	14.065	7.554
Nov-17	21.563	14.153	7.41
Dec-17	21.177	14.036	7.141
Jan-18	20.937	14.033	6.904
Feb-18	21.301	14.268	7.033
Mar-18	20.314	13.796	6.518
Apr-18	20.148	13.766	6.382
May-18	20.757	14.257	6.5
Jun-18	20.361	14.034	6.327
Jul-18	20.311	13.991	6.32
Aug-18	19.361	13.312	6.049
Sep-18	18.880	13.001	5.879
Oct-18	18.774	13.068	5.706
Nov-18	17.948	12.547	5.401
Dec-18	16.866	11.765	5.101
Jan-19	16.433	11.573	4.86
Feb-19	17.233	12.262	4.971
Mar-19	16.349	11.577	4.772
Apr-19	16.528	11.81	4.718
May-19	16.243	11.536	4.707
Jun-19	16.614	11.884	4.73
Jul-19	17.173	12.209	4.964
Aug-19	17.955	12.715	5.24
Sep-19	18.099	12.983	5.116
Oct-19	18.448	13.283	5.165
Nov-19	19.280	13.925	5.355
Dec-19	19.776	14.312	5.464
Jan-20	20.358	14.788	5.57
Feb-20	18.991	13.874	5.117
Mar-20	18.866	13.964	4.902
Apr-20	18.297	13.412	4.885
May-20	15.978	11.968	4.01
Jun-20	17.298	12.881	4.417
Jul-20	19.083	14.365	4.718
Aug-20	21.291	16.329	4.962
Sep-20	23.038	17.596	5.442
Oct-20	22.842	17.546	5.296
Nov-20	23.670	18.154	5.516
Dec-20	25.842	19.752	6.09
Jan-21	29.471	22.684	6.787
Feb-21	28.416	21.594	6.822
Mar-21	29.102	21.594	7.508
Apr-21	30.849	22.849	8
May-21	30.862	22.329	8.533
Jun-21	31.331	22.459	8.872
Jul-21	32.289	22.884	9.405
Aug-21	31.453	21.81	9.643
Sep-21	31.230	21.165	10.065
Oct-21	30.298	20.123	10.175
Nov-21	32.240	21.566	10.674
Dec-21	33.017	22.028	10.989
Jan-22	35.134	23.308	11.826
Feb-22	32.695	21.385	11.31
Mar-22	32.294	21.07	11.224
Apr-22	31.061	20.164	10.897
May-22	31.232	20.646	10.586
Jun-22	30.007	19.865	10.142
Jul-22	28.740	19.297	9.443
Aug-22	27.529	18.47	9.059
Sep-22	25.840	17.267	8.573
Oct-22	25.864	17.233	8.631
Nov-22	24.316	16.117	8.199
Dec-22	23.715	15.77	7.945
Jan-23	23.105	15.297	7.808
Feb-23	23.453	15.533	7.92
Mar-23	23.474	15.642	7.832
Apr-23	23.496	15.601	7.895
May-23	24.249	16.011	8.238
Jun-23	24.566	15.964	8.602
Jul-23	24.074	15.482	8.592
Aug-23	24.700	15.975	8.725
Sep-23	25.617	16.572	9.045
Oct-23	26.556	17.157	9.399
Nov-23	26.951	17.353	9.598
Dec-23	26.325	16.817	9.508
Jan-24	25.711	16.242	9.469
Feb-24	26.597	16.898	9.699
Mar-24	27.919	17.438	10.481
Apr-24	28.641	17.98	10.661
May-24	28.731	17.867	10.864
Jun-24	29.073	18.092	10.981
Jul-24	30.090	18.544	11.546
Aug-24	30.378	18.667	11.711

Monthly value of new loan commitments for housing (excluding refinancing) - seasonally adjusted

["","Total","Owner-occupiers","Investor"]

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1509999999999998],[9.1150000000000002],[9.0920000000000005],[9.1669999999999998],[8.8930000000000007],[9.5109999999999992],[10.085000000000001],[9.1669999999999998],[9.1479999999999997],[8.827],[8.5069999999999997],[7.4039999999999999],[6.8739999999999997],[6.6639999999999997],[6.6970000000000001],[6.593],[6.6920000000000002],[6.6509999999999998],[6.8959999999999999],[7.2050000000000001],[7.5],[7.6379999999999999],[7.593],[8.3350000000000009],[8.5869999999999997],[8.8469999999999995],[8.9060000000000006],[8.9870000000000001],[8.6389999999999993],[8.8680000000000003],[8.6170000000000009],[8.407],[8.141],[7.8760000000000003],[7.944],[7.8570000000000002],[7.5540000000000003],[7.4100000000000001],[7.141],[6.9039999999999999],[7.0330000000000004],[6.5179999999999998],[6.3819999999999997],[6.5],[6.327],[6.3200000000000003],[6.0490000000000004],[5.8789999999999996],[5.7060000000000004],[5.4009999999999998],[5.101],[4.8600000000000003],[4.9710000000000001],[4.7720000000000002],[4.718],[4.7069999999999999],[4.7300000000000004],[4.9640000000000004],[5.2400000000000002],[5.1159999999999997],[5.165],[5.3550000000000004],[5.4640000000000004],[5.5700000000000003],[5.117],[4.9020000000000001],[4.8849999999999998],[4.0099999999999998],[4.4169999999999998],[4.718],[4.9619999999999997],[5.4420000000000002],[5.2960000000000003],[5.516],[6.0899999999999999],[6.7869999999999999],[6.8220000000000001],[7.508],[8],[8.5329999999999995],[8.8719999999999999],[9.4049999999999994],[9.6430000000000007],[10.065],[10.175000000000001],[10.673999999999999],[10.989000000000001],[11.826000000000001],[11.31],[11.224],[10.897],[10.586],[10.141999999999999],[9.4429999999999996],[9.0589999999999993],[8.5730000000000004],[8.6310000000000002],[8.1989999999999998],[7.9450000000000003],[7.8079999999999998],[7.9199999999999999],[7.8319999999999999],[7.8949999999999996],[8.2379999999999995],[8.6020000000000003],[8.5920000000000005],[8.7249999999999996],[9.0449999999999999],[9.3989999999999991],[9.5980000000000008],[9.5079999999999991],[9.4689999999999994],[9.6989999999999998],[10.481],[10.661],[10.864000000000001],[10.981],[11.545999999999999],[11.711]]]

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Comparing this month's combined values of owner-occupier and investor housing loans with August 2023 shows differences between states.

“There were state-by-state variations in the year leading up to August’s modest housing loan rises. Lending in Queensland grew strongly in the past 12 months and was the key driver behind the August increase,” Dr Tan said.

“The total value of lending for housing in Queensland rose by just over 40 per cent in the past 12 months. This $2.0 billion rise was more than any other state”, Dr Tan said.

Value of new housing loan commitments, total (a), selected states, seasonally adjusted
	Aus (b)	NSW	Vic	Qld	SA	WA	Tas	NT	ACT
August 2024 ($m)	30,378	9,966	7,393	6,757	1,756	3,364	343	107	592
Value change from August 2023 ($m)	5,677	1,593	755	1,965	331	864	19	-11	74
% change from August 2023	23.0	19.0	11.4	41.0	23.2	34.5	5.8	-9.5	14.4

total is the monthly sum of owner-occupier and investor housing new loan commitments
statistics for Australia and each state and territory are subject to direct seasonal adjustment which means the sum of state and territory movements is not equal to the national movement

Value of new housing loan commitments, total (a), selected states, seasonally adjusted, $b
	NSW ($b)	Vic ($b)	Qld ($b)	WA ($b)
Aug-14	6.634	4.946	3.641	2.637
Sep-14	6.949	4.900	3.687	2.639
Oct-14	7.214	5.114	3.656	2.646
Nov-14	7.059	5.016	3.569	2.584
Dec-14	7.398	5.102	3.517	2.554
Jan-15	7.591	5.266	3.581	2.306
Feb-15	7.371	5.010	3.610	2.420
Mar-15	7.948	5.320	3.711	2.453
Apr-15	7.981	5.534	3.858	2.439
May-15	7.405	5.189	3.716	2.251
Jun-15	7.910	5.437	3.687	2.282
Jul-15	7.896	5.413	3.791	2.212
Aug-15	8.100	5.819	3.787	2.200
Sep-15	7.904	5.479	3.724	2.026
Oct-15	7.442	5.362	3.487	1.960
Nov-15	7.117	5.506	3.410	1.851
Dec-15	7.071	5.358	3.582	1.858
Jan-16	6.875	5.227	3.479	1.776
Feb-16	7.088	5.312	3.553	1.776
Mar-16	6.864	5.226	3.501	1.732
Apr-16	7.222	5.432	3.553	1.751
May-16	7.357	5.369	3.673	1.741
Jun-16	7.526	5.446	3.627	1.734
Jul-16	7.640	5.317	3.567	1.750
Aug-16	7.506	5.224	3.649	1.701
Sep-16	7.933	5.576	3.753	1.698
Oct-16	8.093	5.737	3.807	1.690
Nov-16	8.334	5.905	3.816	1.686
Dec-16	8.507	6.010	3.841	1.704
Jan-17	8.634	6.135	3.813	1.627
Feb-17	8.543	6.073	3.745	1.745
Mar-17	8.885	6.316	3.809	1.698
Apr-17	8.537	6.152	3.817	1.662
May-17	8.875	6.342	3.683	1.670
Jun-17	8.445	6.350	3.681	1.718
Jul-17	8.492	6.282	3.687	1.714
Aug-17	8.748	6.587	3.578	1.692
Sep-17	8.449	6.689	3.514	1.602
Oct-17	8.188	6.499	3.440	1.633
Nov-17	8.023	6.460	3.503	1.614
Dec-17	7.820	6.404	3.418	1.573
Jan-18	7.658	6.287	3.446	1.563
Feb-18	8.267	6.381	3.353	1.469
Mar-18	7.589	6.096	3.356	1.459
Apr-18	7.589	5.913	3.337	1.478
May-18	7.664	6.170	3.472	1.517
Jun-18	7.570	6.090	3.530	1.454
Jul-18	7.249	6.146	3.522	1.441
Aug-18	7.011	5.831	3.259	1.363
Sep-18	6.877	5.674	3.126	1.384
Oct-18	6.567	5.713	3.186	1.412
Nov-18	6.327	5.385	2.984	1.390
Dec-18	6.073	5.038	2.771	1.227
Jan-19	5.593	4.887	2.798	1.210
Feb-19	6.292	5.003	2.914	1.217
Mar-19	5.827	4.914	2.799	1.254
Apr-19	5.868	4.852	2.794	1.266
May-19	5.638	4.852	2.785	1.243
Jun-19	5.913	5.029	2.851	1.253
Jul-19	6.071	5.213	2.905	1.298
Aug-19	6.300	5.468	3.046	1.355
Sep-19	6.349	5.543	3.127	1.337
Oct-19	6.466	5.800	3.106	1.276
Nov-19	6.912	5.969	3.228	1.356
Dec-19	7.036	6.148	3.335	1.372
Jan-20	7.206	6.265	3.183	1.378
Feb-20	6.680	5.797	3.394	1.380
Mar-20	6.991	5.678	3.258	1.361
Apr-20	6.841	5.848	2.608	1.193
May-20	5.541	5.187	2.539	1.061
Jun-20	6.397	5.050	3.032	1.262
Jul-20	6.852	5.423	3.339	1.523
Aug-20	7.410	6.146	3.854	1.761
Sep-20	8.061	5.988	4.357	2.137
Oct-20	8.258	5.268	4.474	2.253
Nov-20	8.473	5.981	4.532	2.347
Dec-20	8.956	7.085	4.851	2.514
Jan-21	9.713	8.209	5.317	2.733
Feb-21	9.382	8.223	5.269	2.747
Mar-21	9.998	8.497	5.450	2.658
Apr-21	10.619	8.983	5.621	2.699
May-21	10.878	9.024	5.556	2.708
Jun-21	11.269	9.103	5.652	2.645
Jul-21	11.634	9.244	5.766	2.692
Aug-21	11.257	9.128	5.805	2.532
Sep-21	11.233	8.524	5.933	2.630
Oct-21	10.342	8.458	6.035	2.471
Nov-21	11.564	9.126	6.178	2.583
Dec-21	11.746	9.372	6.271	2.660
Jan-22	12.741	10.025	6.250	2.715
Feb-22	11.402	9.434	6.199	2.737
Mar-22	11.129	9.470	6.073	2.805
Apr-22	10.413	8.737	6.030	2.754
May-22	10.425	9.117	6.014	2.683
Jun-22	9.982	8.654	5.987	2.646
Jul-22	9.340	8.286	5.495	2.565
Aug-22	8.950	8.000	5.318	2.559
Sep-22	8.391	7.493	5.017	2.327
Oct-22	8.361	7.674	4.812	2.358
Nov-22	7.982	6.894	4.740	2.293
Dec-22	7.908	6.529	4.570	2.328
Jan-23	7.706	6.255	4.543	2.147
Feb-23	8.074	6.304	4.408	2.204
Mar-23	7.892	6.338	4.602	2.271
Apr-23	7.847	6.285	4.676	2.336
May-23	8.293	6.485	4.800	2.374
Jun-23	8.304	6.612	4.864	2.464
Jul-23	8.307	6.438	4.778	2.398
Aug-23	8.374	6.638	4.792	2.501
Sep-23	8.639	7.148	4.906	2.414
Oct-23	8.974	7.252	5.167	2.712
Nov-23	8.952	7.259	5.419	2.718
Dec-23	8.743	7.137	5.169	2.739
Jan-24	8.630	6.731	5.000	2.821
Feb-24	9.046	6.814	5.410	2.808
Mar-24	9.385	6.954	5.710	2.978
Apr-24	10.076	7.184	5.960	3.157
May-24	9.433	7.219	6.094	3.299
Jun-24	9.719	7.349	5.975	3.289
Jul-24	10.049	7.554	6.457	3.471
Aug-24	9.966	7.393	6.757	3.364

Value of new housing loan commitments, total (a), selected states, seasonally adjusted, $b

["","NSW","Vic","Qld","WA"]

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[3.2890000000000001],[3.4710000000000001],[3.3639999999999999]]]

[]

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total is the monthly sum of owner-occupier and investor new housing loan commitments

Number of first home buyers

The number of owner occupier first-home buyer loans fell by 1.5 per cent to 9,869 loans in August compared to the previous month.

“First home buyer loans were 9.2 per cent higher compared to last August but slightly down on July. Much of the growth compared to 2023 came from Queensland. Despite this, Victoria continued to have nearly one third of Australia’s first home buyers,” said Dr Tan.

Housing finance loan commitments by property purpose and state, seasonally adjusted – Aug 2024
		Aus (a)	NSW	Vic	Qld	SA	WA	Tas	NT	ACT
Owner-occupiers
	Value ($b)	18.7	5.6	5.1	4.0	1.1	2.1	0.3	0.1	0.4
	Value change ($m)	123	-81	-95	101	22	10	5	5	5
	Value % change (b)	0.7	-1.4	-1.8	2.6	2.1	0.5	1.9	7.8	1.3 †
Owner-occupier first home buyers
	Number change	-147	-90	-169	20	27	23	12	1	-13
	Number % change (b)	-1.5	-3.7	-5.2	1.0	4.6	1.8	7.4	1.9	-5.9 †
Investors
	Value change ($m)	165	-1	-66	200	33	-117	-9	-3	1
	Value % change (b)	1.4	0	-2.7	7.9	5.1	-8.3	-9.1	-8.1	0.4

† A smaller and more volatile series

Total Australia levels do not necessarily equal the sum of states, due to independent seasonal adjustment
All movements are on a month-to-month basis

Personal finance

The value of new loan commitments for total fixed term personal finance rose 2.0 per cent to $2.7 billion and was 15.3 per cent higher compared to a year ago. Lending for the purchase of road vehicles rose 0.6 per cent in August.

Media notes

All figures are seasonally adjusted unless noted otherwise.
Lending Indicators reverted to concurrent seasonal adjustment in the October 2022 release. This method of seasonal adjustment will result in revisions to historical data each month. For more information, see the methodology page
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