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New home loans reach third-highest level in almost 20 years By Fergus Halliday 02 July 2021 | 1 minute read SHARE The ripe conditions of Australia’s property market find a new peak. Low interest rates and ongoing growth in the housing market have fuelled another strong month for Australians looking to build their own home. According to the Australian Bureau of Statistics, new housing loan commitments for investor housing rose 13.3 per cent in May 2021 to a high of $9.1 billion. “The value of investor loan commitments rose 116 per cent in the year to May 2021, after falling to a 20-year low in May 2020,” ABS head of finance and wealth Katherine Keenan said. ....
6.8534 The rise in investor loan commitments was concentrated in New South Wales and Victoria which rose by 12.1 per cent and 17.4 per cent, in May 2021. New loan commitments for owner occupiers rose 1.9 per cent to $23.4 billion, the highest level since the series began. However, for the third consecutive month there were falls in the value of loan commitments for residential land and the construction of new dwellings. While the number of loan commitments to owner occupier first home buyers fell 0.8 per cent to 15,050, it remained at historically high levels. “First home buyer activity remained at high levels in New South Wales and Victoria. However, the number of first home buyers has fallen over the last few months in Queensland, Western Australia and South Australia, following the cessation of HomeBuilder and state government initiatives, such as the Building Bonus Grant in Western Australia”, Ms Keenan said. ....
Mortgage Business Loan commitments continue record streak By Malavika Santhebennur 07 June 2021 New housing loan commitments soared to a record high of $31 billion, but construction loans for new dwellings recorded their second monthly fall since the launch of HomeBuilder, according to the ABS. The Australian Bureau of Statistics’ (ABS) lending indicators data for April 2021 has revealed that new loan commitments reached a new record once again, up 3.7 per cent to $31 billion. The value of owner-occupier new loan commitments also reached the highest point in the series, up 4.3 per cent to $23 billion. Values in this segment rose in NSW (8.6 per cent), Victoria (8.4 per cent), South Australia (5.3 per cent), and in Queensland (1.3 per cent), but declined by 7.9 per cent in Western Australia after fallin ....