The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
FIRST RELEASE TICKETS ON SALE FOR URBANITY-25 THE UNMISSABLE EVENT FOR PROPERTY PROFESSIONALS IN THE ASIA PACIFIC
FIRST TICKETS ON SALE FOR URBANITY-25 UNMISSABLE FOR PROPERTY PROFESSIONALS
SEE DETAILSDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Partner Lab
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
FinanceMon 09 Sep 19

Home Loan Lending Strongest in Five Years

2c9f1663-9b9f-4e6c-9b9a-2f97e8c9d07b

Demand for mortgages is starting to rise reveals the latest Australian Bureau of Statistics figures.

Up to $26.5 billion worth of housing finance commitments were made in July this year, marking the second consecutive month of increases.

ABS chief economist Bruce Hockman said growth in new lending commitments to households in July was the strongest since October 2014.

“For the second month in a row there were particularly strong increases in the level of new lending commitments for owner occupier and investment dwellings,” Hockman said.

“Despite this recent turn-around both series remain down from their respective peaks in 2017.”

Related: Housing Market Wrap Up: Auctions, Approvals And GDP

The value of new lending commitments to households increased 3.9 per cent in July 2019, seasonally adjusted, according to the ABS figures on new lending to households and businesses released Monday.

The rise in new lending to households follows a 1.9 per cent increase in June 2019.

And after a noticeable withdrawal from the market, new loans to investors were up almost 5 per cent on the month prior.

Corelogic’s Cameron Kusher said most of the increase in lending was coming from new lending rather than refinances of existing loans, with $26.5 billion in housing finance split between $19.3 billion to owner-occupiers and $7.2 billion worth of commitments to investors.

“For both owner-occupiers and investors it was the second successive month in which the value of lending has increased,” Kusher said.

“The $19.3 billion worth of commitments to owner-occupiers was the greatest value since November 2018 and the $7.2 billion in commitments to investors was the greatest since December 2018.”

After a slump, national dwelling values have been increasing since May this year.

Australia’s largest housing markets have begun to pick up, with an acceleration in the rate of growth in Sydney and Melbourne dwelling values.

ResidentialAustraliaBrisbaneMelbournePerthAdelaidedo not useFinanceReal EstateSector
ADVERTISEMENT
TOP STORIES
North Melbourne Craigieburn HB Land EDM
Exclusive

Tribunal Finding Cruels 1000-Home Melbourne Plan

Clare Burnett
5 Min
Roseville Hycorp EDM
Exclusive

Ku-ring-gai TOD Backflip Slashes 1500 Homes from Under-Way Developments

Clare Burnett
7 Min
Exclusive

Housing Fix Sprint Begins with New Top Planner Pushing 13 Regional Plans

Phil Bartsch
8 Min
Elanor Investors Tweed Mall masterplan
Exclusive

Tweed Marks Time as $900m Mall Redevelopment Goes Quiet

Renee McKeown
6 Min
High-density residential construction in Melbourne
Exclusive

Stabilising Conditions in Melbourne Bring Hopes of Improved Feasibility

Leon Della Bosca
6 Min
View All >
Carillon City EDM
Residential

Twiggy’s $400m Carillon City Redevelopment Greenlit

Clare Burnett
A render of part of the Greenline project along Melbourne's Yarra River.
Infrastructure

Melbourne’s Greenline Survives Bid to Shelve Project

Marisa Wikramanayake
Australia Post Facility Concept render 2 HERO
Infrastructure

E-Commerce Drives Australia Post Regional NSW Expansion

Leon Della Bosca
The post office says the loss of brick-and-mortar retail means more parcels as it gets to work on six greenfield sites..…
LATEST
Carillon City EDM
Residential

Twiggy’s $400m Carillon City Redevelopment Greenlit

Clare Burnett
3 Min
A render of part of the Greenline project along Melbourne's Yarra River.
Infrastructure

Melbourne’s Greenline Survives Bid to Shelve Project

Marisa Wikramanayake
5 Min
Australia Post Facility Concept render 2 HERO
Infrastructure

E-Commerce Drives Australia Post Regional NSW Expansion

Leon Della Bosca
3 Min
Housing development and infrastructure project, Gold Coast
Policy

Housing Reforms on Right Track Despite Supply Gap

Leon Della Bosca
4 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/-mortgage-lending-lifts