Lending indicators

Latest release

This release is about new borrower-accepted finance commitments for housing, personal and business loans

Reference period
May 2024
Released
8/07/2024
  • Next Release 2/08/2024
    Lending indicators, June 2024
  • Next Release 6/09/2024
    Lending indicators, July 2024
  • Next Release 4/10/2024
    Lending indicators, August 2024
  • View all releases

Key statistics

In May 2024, new loan commitments (seasonally adjusted):

  • fell 1.7% for housing
  • fell 0.7% for personal fixed term loans
  • rose 38.6% for business construction (a typically volatile series) and rose 1.0% in trend terms
  • fell 1.8% for business purchase of property (a typically volatile series) but rose 0.8% in trend terms

 

Value of new borrower-accepted loan commitments (seasonally adjusted)
 May-2024 ($b)Month percent change (%)Year percent change (%)
Households 
 Housing28.80-1.718.0
  Owner Occupier (a)18.13-2.012.2
  Investor (a)10.67-1.329.5
 Personal 
  Fixed term loans2.56-0.712.7
Businesses 
 Construction2.6438.64.1
 Purchase of Property5.90-1.82.9
  1. Loan commitments for owner occupier, investor housing and personal fixed term loans exclude refinancing.

Important data quality notes

Seasonal adjustment methods

Treatment of Buy Now Pay Later products in Personal finance

Personal finance data quality

Housing finance

In May 2024 in seasonally adjusted terms, the value of new loan commitments:

  • for total housing fell 1.7% to $28.8b, after a rise of 4.8% in April. It was 18.0% higher compared to a year ago.
  • for owner-occupier housing fell 2.0% to $18.1b but was 12.2% higher compared to a year ago
  • for investor housing fell 1.3% to $10.7b but was 29.5% higher compared to a year ago
  1. All series exclude refinancing

In May 2024 in seasonally adjusted terms, the value of external refinancing:

  • for total housing fell 0.7% to $16.2b and was 22.2% lower compared to a year ago
  • for owner-occupier housing fell 0.4% to $10.2b and was 27.8% lower compared to a year ago
  • for investor housing fell 1.1% to $6.0b and was 10.5% lower compared to a year ago

Personal finance

In May 2024 in seasonally adjusted terms, the value of new loan commitments:

  • for fixed term personal finance fell 0.7%, after a rise of 0.9% in April
  • for road vehicles rose 0.8%
  • for personal investment rose 9.8%
  1. Any missing data points in the series above are not available for publication.
  1. Any missing data points in the series above are not available for publication.

Business finance

In May 2024 in seasonally adjusted terms, the value of new loan commitments:

  • for construction finance rose 38.6%, after a fall of 1.6% in April. In trend terms, it rose 1.0%.
  • for the purchase of property fell 1.8%, after a rise of 2.8% in April. In trend terms, it rose 0.8%.

These series can have volatile month-to-month movements in seasonally adjusted terms as they are strongly affected by small numbers of high value loans.

  1. Any missing data points in the series above are not available for publication.

Housing finance (detailed)

 

Value of new loan commitments by purpose (seasonally adjusted)
 May-2024 ($b)Month percent change (%)Year percent change (%)
Owner occupier 
 Total housing (a)18.13-2.012.2
  Construction of dwellings1.75-0.714.7
  Purchase of newly erected dwellings1.05-5.613.0
  Purchase of existing dwellings13.90-2.210.4
 First home buyers5.21-2.910.1
Investor 
 Total housing (a)10.67-1.329.5

 

Number of new loan commitments by purpose (seasonally adjusted)
 May-2024 (No.)Month percent change (%)Year percent change (%)
Owner occupier 
 Total housing (a)N/AN/AN/A
  Construction of dwellings2 9680.315.2
  Purchase of newly erected dwellings1 725-8.93.8
  Purchase of existing dwellings22 187-1.21.9
 First home buyers9 873-3.33.7
Investor 
 Total housing (a)N/AN/AN/A

Housing includes loan commitments for dwellings, purchase of residential land and for alterations and additions.

(a) There is no seasonally adjusted or trend data available for the number of owner occupiers or investors for total housing as the data was collected from July 2019.

In May 2024 in seasonally adjusted terms, the value of new loan commitments:

  • to owner occupiers fell 2.0%, after a rise of 4.5% in April
  • to investors fell 1.3%, after a rise of 5.3% in April

In May 2024 in seasonally adjusted terms for owner-occupier housing, the value of new loan commitments:

  • for the purchase of existing dwellings fell 2.2% but was 10.4% higher compared to a year ago
  • for the construction of new dwellings fell 0.7% but was 14.7% higher compared to a year ago
  • for the purchase of new dwellings fell 5.6% but was 13.0% higher compared to a year ago
  1. For periods prior to July 2019, statistics on owner occupier commitments for residential land are modelled using data about the total value of commitments for residential land.
  2. Users can hide/unhide series in the graph by clicking the legend above (e.g. toggle the "purchase of existing dwellings" series for a closer look at the other purposes of owner occupier lending).

     

In May 2024 in seasonally adjusted terms for owner-occupier housing, the value of new loan commitments:

  • in Western Australia rose 2.6%, in Queensland rose 0.8% and in Tasmania rose 9.2%
  • in New South Wales fell 7.9%, in Victoria fell 2.4%, in South Australia fell 1.7%, in the Northern Territory fell 6.3% and in the Australian Capital Territory fell 1.4%

The Tasmania, Northern Territory, and Australian Capital Territory series are smaller and typically more volatile.

In May 2024 in seasonally adjusted terms for investor housing, the value of new loan commitments:

  • in Queensland rose 4.3%, in Victoria rose 3.4%, in Western Australia rose 5.3%, in the Australian Capital Territory rose 10.9% and in South Australia rose 3.1%
  • in New South Wales fell 9.0%, in the Northern Territory fell 9.7% and in Tasmania fell 0.4%

The Tasmania, Northern Territory, and Australian Capital Territory series are smaller and typically more volatile.

In May 2024, in original terms:

  • the value of new variable rate loan commitments funded in the month rose 12.5%
  • the value of new fixed rate loan commitments funded in the month rose 71.0%, though it remained at historically low levels. It was 61.7% lower compared to a year ago.
  1. A loan is considered funded once any portion of the funds is made available for the borrower to draw down according to the terms of the contract. This will occur after there is a borrower-accepted commitment to provide finance. Due to this timing difference, the value of loans funded in the month shown in this graph will generally not reconcile with the value of new borrower-accepted commitments for the month shown in the other graphs and download tables.

In May 2024 in original terms, average loan sizes for owner-occupier dwellings (including construction, purchase of new dwellings and existing dwellings; excluding land, alterations and additions):

  • remained flat at $626k
  1. Please note that while the series graphed above are joined between the available data points, there may be missing data points in between which are not available for publication

First home buyers

In May 2024 in seasonally adjusted terms for owner-occupier first home buyers, the number of new loan commitments:

  • at the national level fell 3.3% to 9,873, following a 2.7% rise in April. It was 3.7% higher compared to a year ago.
  • in New South Wales fell 7.9%, in Victoria fell 3.2%, in Queensland fell 3.2%, in Western Australia fell 2.1%, in the Northern Territory fell 22.5%, in South Australia fell 2.0%, in Tasmania fell 5.1% and in the Australian Capital Territory fell 1.3%

The Tasmania, Northern Territory, and Australian Capital Territory series are smaller and typically more volatile.

Additional information

 

 

New loan commitments to owner-occupier first home buyers (original), number
 First home buyer loan commitments
Number
First home buyer ratio (a)
- Dwellings (b)
First home buyer ratio
Housing (c)
Total Australia10 91836.2%30.7%
New South Wales2 73235.1%30.1%
Victoria3 52139.4%34.5%
Queensland2 00032.4%26.5%
South Australia63133.0%26.1%
Western Australia1 50537.8%31.9%
Tasmania18933.3%28.5%
Northern Territory7443.3%37.8%
Australian Capital Territory26640.3%35.6%

a. The ratios in the table above are calculated against overall owner-occupier loans, including both OO FHB and OO non-FHB loans. They are not calculated against all housing loans, which would also include investor lending.

b. Dwellings includes loan commitments for construction of dwellings, purchase of newly erected dwellings and purchase of existing dwellings.

c. Housing includes loan commitments for dwellings, purchase of residential land and for alterations and additions.

Data downloads

Housing Finance - Total

Data files

Housing Finance - Owner-occupiers

Data files

Housing Finance - Investors

Data files

Housing Finance - First home buyers

Data files

Housing finance - Non-residents

Table 26. Households; Housing finance; Non-residents; New loan commitments; Numbers and values

Personal Finance

Data files

Business Finance

Data files

Data cubes

Series ID concordance mapping

Previous catalogue number

This release previously used catalogue number 5601.0.

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