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Lending indicators

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

Reference period
September 2023
Released
2/11/2023

Key statistics

In September 2023, new loan commitments (seasonally adjusted):

  • rose 0.6% for housing
  • rose 2.7% for personal fixed term loans
  • rose 10.5% for business construction (a typically volatile series) and fell 0.2% in trend terms
  • rose 4.8% for business purchase of property (a typically volatile series) and rose 0.9% in trend terms

Value of new borrower-accepted loan commitments (seasonally adjusted)

   Sep-2023 ($b)Month percent change (%)Year percent change (%)
Households
 Housing25.010.6-4.7
  Owner Occupier (a)16.06-0.1-8.4
  Investor (a)8.952.02.6
 Personal
  Fixed term loans (a)2.542.712.1
Businesses
 Construction2.3210.555.7
 Purchase of Property6.034.85.1
  1. Loan commitments for owner occupier, investor housing and personal fixed term loans exclude refinancing.

Housing finance: First home buyers

Publication of the number and value of new loan commitments to first home buyers has been re-instated this month, following temporary suppression in July and August 2023. ABS and APRA have worked closely with data providers to resolve data quality issues. Please note the first home buyer series have been revised upwards back to January 2022.

Important data quality notes

Seasonal adjustment methods

Treatment of Buy Now Pay Later products in Personal finance

Personal finance data quality

  

Housing finance

In September 2023, in seasonally adjusted terms, the value of new loan commitments:

  • for total housing rose 0.6% to $25.0b, after a rise of 2.4% in August. It was 4.7% lower compared to a year ago
  • for owner-occupier housing fell 0.1% to $16.1b and was 8.4% lower compared to a year ago
  • for investor housing rose 2.0% to $9.0b and was 2.6% higher compared to a year ago
  1. All series exclude refinancing

In September 2023, in seasonally adjusted terms, the value of external refinancing:

  • for total housing fell 7.8% to $18.5b and was 1.5% higher compared to a year ago
  • for owner-occupier housing fell 8.4% to $12.5b and was 0.3% higher compared to a year ago
  • for investor housing fell 6.4% to $6.0b and was 4.1% higher compared to a year ago

Personal finance

In September 2023, in seasonally adjusted terms, the value of new loan commitments:

  • for fixed term personal finance rose 2.7%, after a rise of 6.2% in August
  • for road vehicles rose 0.6%
  • for personal investment fell 1.6%
  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 September 2023, in seasonally adjusted terms, the value of new loan commitments:

  • for construction finance rose 10.5%, after a rise of 17.3% in August. In trend terms, it fell 0.2%
  • for the purchase of property rose 4.8%, after a rise of 10.2% in August. In trend terms, it rose 0.9%

These series can have volatile month-to-month movements 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)

   Sep-2023 ($b)Month percent change (%)Year percent change (%)
Owner occupier
 Total housing (a)16.06-0.1-8.4
  Construction of dwellings1.50-0.9-29.7
  Purchase of newly erected dwellings0.931.7-6.2
  Purchase of existing dwellings12.540.3-4.8
 First home buyers4.641.43.1
Investor
 Total housing (a)8.952.02.6

Number of new loan commitments by purpose (seasonally adjusted)

   Sep-2023 (No.)Month percent change (%)Year percent change (%)
Owner occupier
 Total housing (a)N/AN/AN/A
  Construction of dwellings2 6882.6-27.5
  Purchase of newly erected dwellings1 594-0.4-7.4
  Purchase of existing dwellings21 077-0.3-5.2
 First home buyers9 2130.5-0.6
Investor
 Total housing (a)N/AN/AN/A

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

  1. 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 September 2023, in seasonally adjusted terms, the value of new loan commitments:

  • for owner occupiers fell 0.1%, after a rise of 2.8% in August
  • for investors rose 2.0%, after a rise of 1.7% in August

  

In September 2023, in seasonally adjusted terms for owner-occupier housing, the value of new loan commitments:

  • for the purchase of existing dwellings rose 0.3% and was 4.8% lower compared to a year ago
  • for the construction of new dwellings fell 0.9% and was 29.7% lower compared to a year ago
  • for the purchase of new dwellings rose 1.7% and was 6.2% lower 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 September 2023, in seasonally adjusted terms for owner-occupier housing, the value of new loan commitments:

  • in South Australia fell 5.4%, in Western Australia fell 3.0%, in Tasmania fell 7.2%, in New South Wales fell 0.2% and in the Northern Territory fell 9.0%
  • in Victoria rose 3.6%, in Queensland rose 0.4% and in the Australian Capital Territory rose 2.7%

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

  

In September 2023, in seasonally adjusted terms for investor housing, the value of new loan commitments:

  • in Victoria rose 6.1%, in New South Wales rose 2.3%, in the Australian Capital Territory rose 12.3%, Western Australia rose 1.6% and Queensland  rose 0.3%
  • in Tasmania fell 14.7%, in South Australia fell 1.7% and in the Northern Territory fell 19.9%

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

In September 2023, in original terms:

  • the value of total new variable rate loan commitments funded in the month fell 5.1%
  • the value of total new fixed rate loan commitments funded in the month fell 49.0% 
  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.
  2. Total fixed rate and total variable rate housing loans include their respective first home buyer loan components.

In September 2023, in original terms, average loan sizes for owner-occupier dwellings (including construction, purchase of new dwellings and existing dwellings):

  • rose 2.4% at the national level from $585k to $599k. It was 3.0% lower compared to the all time high in January 2022
  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 September 2023, in seasonally adjusted terms for owner-occupier first home buyers, the number of new loan commitments:

  • at the national level rose 0.5% to 9,213, following a 4.6% rise in August. It was 0.6% lower compared to a year ago.
  • in Victoria rose 6.3%, in Queensland rose 3.0%, in the Australian Capital Territory rose 8.9%, in South Australia rose 3.0% and in Western Australia rose 1.1%
  • in New South Wales fell 7.0%, in the Northern Territory fell 9.4% and in Tasmania fell 2.9%

Additional information

New loan commitments to owner-occupier first home buyers (original), number

 First home buyer loan commitments
Number
First home buyer ratio
Dwellings (a)
First home buyer ratio
Housing (b)
Total Australia9 14737.3%32.1%
New South Wales2 11433.7%28.7%
Victoria2 95741.8%36.5%
Queensland1 81933.6%28.7%
South Australia60636.9%29.7%
Western Australia1 22841.4%36.5%
Tasmania13530.9%26.5%
Northern Territory4830.8%27.9%
Australian Capital Territory24041.2%37.2%

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

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

c. Some data for smaller states and territories may not be available for publication in a given month

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

    

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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