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2020 closed with new record mortgage activity
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The year 2020 closed with a new record in home loan commitments, as government stimulus helped revive the pre-COVID lending slump.
Figures from the Australian Bureau of Statistics’ (ABS)
Lending Indicators for December 2020 has shown that the total value of new home loan commitments rose by 8.6 per cent (seasonally adjusted) to $26 billion.
This marked the largest monthly commitments on record, and was up 31.2 per cent from December 2019.
The commitments were driven by an 8.7 per cent increase in the value of new owner-occupier home loan commitments to $19.9 billion in December 2020, itself a new record-breaking figure.