Investor loans up 29.5 per cent from a year ago

Media Release
Released
1/11/2024

This is the final monthly release of the Lending Indicators publication. The new 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 fell 0.3 per cent in September to $30.2 billion following seven consecutive rises, according to data released today by the Australian Bureau of Statistics.

The value of new investor loans fell 1.0 per cent to $11.6 billion, which was 29.5 per cent higher than September 2023 and slightly below the record high of January 2022. 

The value of owner-occupier loans rose 0.1 per cent to $18.6 billion, which was 13.1 per cent higher than September 2023.

Owner occupier first home buyer loans fell 3.3 per cent to $5.2 billion, which was 8.8 per cent higher than September 2023.

Mish Tan, ABS head of finance statistics, said: “Over the past 18 months, the average size of loans approved increased for both owner-occupiers and investors. However, the growth in investor loans was also driven by increases in the number of loans being approved.

“Investor activity remains at high levels in response to the recent growth in house prices and rental yields,” said Dr Tan.

Number of first home buyers

The number of new owner-occupier first home buyer loans fell 3.2 per cent in September to 9,686, which was 2.0 per cent higher than September 2023. 

“In September 2024 there were 9,686 loans to first home buyers across Australia. Victoria made the largest contribution, with 3,146 loans, followed by New South Wales with 2,250 and Queensland with 1,845,” Dr Tan said.

Housing finance loan commitments by property purpose and state, seasonally adjusted – Sep 2024
 Aus (a)NSWVicQldSAWATasNTACT
Owner-occupiers 
 Value ($b)18.65.65.03.91.12.20.30.10.4
 Value change ($m)208-48-66-117681414
 Value % change (b)0.10.1-0.9-1.7-1.03.63.320.03.7
Owner-occupier first home buyers 
 Number change-319-85-13-188973338
 Number % change (b)-3.2-3.6-0.4-9.21.50.51.75.718.0
Investors 
 Value change ($m)-11868-16-10152-1163-33
 Value % change (b)-1.01.6-0.7-3.77.5-0.118.29.0-15.7

† A smaller and more volatile series

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

Personal finance

The value of new loan commitments for total fixed term personal finance rose 2.1 per cent to $2.8 billion and was 16.1 per cent higher compared to a year ago. Lending for the purchase of road vehicles rose 0.7 per cent in the month.

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
  • When reporting ABS data you must attribute the Australian Bureau of Statistics (or the ABS) as the source.
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