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New lending to households rises 3.9 per cent
The value of new lending commitments to households rose 3.9 per cent in July 2019, seasonally adjusted, according to the latest Australian Bureau of Statistics (ABS) figures on new lending to households and businesses.
The rise in new lending to households in July follows a 1.9 per cent rise in June 2019.
ABS Chief Economist, Bruce Hockman said: “In July, growth in new lending commitments to households 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. Despite this recent turn-around both series remain down from their respective peaks in 2017.”
The value of lending for owner occupier dwellings rose 5.3 per cent nationally in July, with rises in all states and territories apart from Tasmania. Lending for investment dwellings rose 4.7 per cent in July with rises across all states and territories.
The number of loans to owner occupier first home buyers rose for the fourth consecutive month in July (up 1.3 per cent). This was outpaced by a rise in the number of loans to non-first home buyers (up 4.0 per cent) for the first time in seven months.
Personal finance fell 2.6 per cent in July following a 5.0 per cent rise in June and was down 8.9 per cent on July 2018.
More information is available in Lending to Households and Businesses, Australia (cat no. 5601.0).
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