New home loans rose 1.3 per cent in June

Media Release

Released

2/08/2024

Source

Lending indicators, June 2024

Release date and time

02/08/2024 11:30am AEST

The total value of new housing loans rose 1.3 per cent in June to $29.2 billion, according to data released today by the Australian Bureau of Statistics.

The value of new owner-occupier loans grew by 0.5 per cent to $18.2 billion, while the value of new investor loans grew by 2.7 per cent to $11.0 billion.

Monthly value of new loan commitments for housing (excluding refinancing) - seasonally adjusted
	Owner-occupiers ($b)	Owner-occupiers (excluding first home buyers) ($b)	Investors ($b)	Owner-occupier first home buyers ($b)
Jun-14	11.398	8.766	8.244	2.632
Jul-14	11.289	8.811	8.548	2.479
Aug-14	10.996	8.516	8.615	2.481
Sep-14	11.116	8.632	8.947	2.484
Oct-14	11.403	8.901	9.153	2.502
Nov-14	11.020	8.597	9.088	2.423
Dec-14	11.357	8.954	9.132	2.402
Jan-15	11.535	9.179	9.149	2.356
Feb-15	11.294	8.782	8.893	2.512
Mar-15	11.719	9.159	9.561	2.560
Apr-15	11.833	9.285	10.051	2.548
May-15	11.125	8.712	9.125	2.413
Jun-15	11.987	9.498	9.189	2.489
Jul-15	12.308	9.880	8.819	2.428
Aug-15	13.263	10.849	8.430	2.414
Sep-15	13.576	11.126	7.460	2.451
Oct-15	13.136	10.798	6.851	2.338
Nov-15	13.020	10.664	6.658	2.356
Dec-15	12.910	10.450	6.731	2.460
Jan-16	12.504	10.099	6.565	2.405
Feb-16	12.712	10.290	6.684	2.423
Mar-16	12.434	10.097	6.704	2.337
Apr-16	12.793	10.305	6.884	2.488
May-16	12.747	10.308	7.206	2.439
Jun-16	12.702	10.290	7.500	2.411
Jul-16	12.454	10.112	7.584	2.343
Aug-16	12.312	10.042	7.573	2.271
Sep-16	12.485	10.141	8.342	2.344
Oct-16	12.598	10.206	8.533	2.392
Nov-16	12.727	10.372	8.930	2.355
Dec-16	13.099	10.712	8.931	2.388
Jan-17	13.148	10.797	9.007	2.352
Feb-17	13.223	10.884	8.650	2.340
Mar-17	13.683	11.274	8.889	2.410
Apr-17	13.598	11.160	8.624	2.438
May-17	14.039	11.553	8.402	2.485
Jun-17	13.971	11.314	8.102	2.657
Jul-17	14.268	11.240	7.783	3.029
Aug-17	14.518	11.323	7.926	3.195
Sep-17	14.394	11.287	7.876	3.107
Oct-17	14.079	10.940	7.540	3.139
Nov-17	14.153	10.929	7.467	3.224
Dec-17	14.030	10.795	7.172	3.235
Jan-18	14.038	10.828	6.921	3.211
Feb-18	14.266	10.940	7.053	3.326
Mar-18	13.781	10.562	6.554	3.219
Apr-18	13.762	10.575	6.374	3.187
May-18	14.259	10.968	6.519	3.291
Jun-18	14.055	10.680	6.248	3.375
Jul-18	13.988	10.631	6.269	3.357
Aug-18	13.285	10.095	5.918	3.190
Sep-18	12.999	9.864	5.980	3.136
Oct-18	13.098	9.918	5.668	3.180
Nov-18	12.547	9.395	5.425	3.152
Dec-18	11.748	8.933	5.192	2.815
Jan-19	11.584	8.744	4.880	2.840
Feb-19	12.264	9.212	4.993	3.052
Mar-19	11.556	8.590	4.738	2.966
Apr-19	11.832	8.785	4.812	3.046
May-19	11.542	8.457	4.613	3.085
Jun-19	11.879	8.658	4.684	3.222
Jul-19	12.227	8.748	4.928	3.479
Aug-19	12.650	8.986	5.090	3.664
Sep-19	12.982	9.346	5.264	3.636
Oct-19	13.324	9.651	5.131	3.674
Nov-19	13.923	10.034	5.356	3.889
Dec-19	14.322	10.269	5.671	4.053
Jan-20	14.806	10.536	5.448	4.270
Feb-20	13.854	9.816	5.137	4.038
Mar-20	13.947	9.852	4.970	4.096
Apr-20	13.429	9.353	4.984	4.076
May-20	11.939	8.332	3.881	3.607
Jun-20	12.927	8.996	4.413	3.932
Jul-20	14.382	9.944	4.600	4.438
Aug-20	16.202	11.130	4.837	5.072
Sep-20	17.670	12.213	5.751	5.458
Oct-20	17.548	12.042	5.101	5.506
Nov-20	18.113	12.481	5.575	5.631
Dec-20	19.795	13.329	6.428	6.467
Jan-21	22.644	15.202	6.531	7.442
Feb-21	21.605	14.835	6.854	6.770
Mar-21	21.626	15.043	7.664	6.583
Apr-21	22.862	16.241	7.950	6.622
May-21	22.234	15.784	8.375	6.450
Jun-21	22.559	16.250	8.910	6.309
Jul-21	22.885	16.736	9.145	6.149
Aug-21	21.698	15.985	9.500	5.713
Sep-21	21.229	15.769	10.681	5.460
Oct-21	20.070	14.823	9.711	5.246
Nov-21	21.600	16.216	10.871	5.384
Dec-21	22.082	16.468	11.321	5.614
Jan-22	23.351	17.535	11.582	5.816
Feb-22	21.391	16.320	11.343	5.071
Mar-22	21.059	15.835	11.513	5.225
Apr-22	20.139	15.093	10.747	5.046
May-22	20.617	15.446	10.563	5.171
Jun-22	19.929	15.168	10.204	4.761
Jul-22	19.303	14.728	9.181	4.575
Aug-22	18.544	13.833	9.032	4.711
Sep-22	17.316	12.901	8.903	4.415
Oct-22	17.271	12.751	8.428	4.520
Nov-22	16.183	11.996	8.424	4.187
Dec-22	15.841	11.743	8.159	4.098
Jan-23	15.455	11.411	7.802	4.044
Feb-23	15.611	11.507	7.949	4.105
Mar-23	15.707	11.311	7.797	4.396
Apr-23	15.549	11.006	7.972	4.543
May-23	16.126	11.386	8.294	4.739
Jun-23	16.050	11.271	8.463	4.780
Jul-23	15.656	11.179	8.632	4.477
Aug-23	16.175	11.669	8.867	4.507
Sep-23	16.645	11.885	9.315	4.760
Oct-23	17.317	12.284	9.346	5.033
Nov-23	17.532	12.488	9.835	5.044
Dec-23	16.892	11.939	9.642	4.952
Jan-24	16.694	12.035	9.577	4.659
Feb-24	17.106	12.139	9.824	4.968
Mar-24	17.687	12.473	10.285	5.215
Apr-24	18.431	13.077	10.869	5.354
May-24	18.087	12.862	10.728	5.225
Jun-24	18.170	12.866	11.016	5.304

Monthly value of new loan commitments for housing (excluding refinancing) - seasonally adjusted

["","Owner-occupiers","Owner-occupiers (excluding first home buyers)","Investors","Owner-occupier first home buyers"]

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44],[4.105],[4.396],[4.543],[4.739],[4.78],[4.477],[4.507],[4.76],[5.033],[5.044],[4.952],[4.659],[4.968],[5.215],[5.354],[5.225],[5.304]]]

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Mish Tan, ABS head of finance statistics, said: “Investor lending growth continued to outpace the growth of owner-occupiers in June. The total value of new investor loans was 30.2 per cent higher compared to a year ago, while for owner-occupiers it was 13.2 per cent.”

While growth in the value of new investor loans was seen across all states and territories over the past 12 months, it was driven by New South Wales (up 27.3 per cent or $901m), Queensland (up 34.5 per cent or $587m) and Western Australia (up 56.7 per cent or $428m). By comparison, growth was relatively slower in Victoria (up 9.4 per cent or $199m) and South Australia (up 38.3 per cent or $175m).

Monthly value of new loan commitments for investor housing (excluding refinancing) - seasonally adjusted
	NSW ($b)	VIC ($b)	QLD ($b)	SA ($b)	WA ($b)	TAS ($b)	NT ($b)	ACT ($b)
Jun-14	3.191	2.034	1.394	0.361	0.931	0.063	0.089	0.121
Jul-14	3.471	2.023	1.419	0.387	0.959	0.059	0.086	0.117
Aug-14	3.511	2.075	1.443	0.399	0.930	0.075	0.094	0.126
Sep-14	3.783	2.067	1.456	0.369	0.998	0.061	0.076	0.117
Oct-14	3.906	2.165	1.444	0.417	0.948	0.070	0.081	0.130
Nov-14	3.919	2.144	1.386	0.409	0.931	0.066	0.076	0.130
Dec-14	4.019	2.174	1.368	0.387	0.916	0.062	0.075	0.144
Jan-15	4.036	2.245	1.400	0.409	0.781	0.060	0.052	0.144
Feb-15	3.932	2.161	1.400	0.395	0.837	0.067	0.057	0.126
Mar-15	4.305	2.290	1.468	0.417	0.851	0.061	0.068	0.140
Apr-15	4.417	2.442	1.519	0.464	0.852	0.067	0.060	0.143
May-15	4.066	2.256	1.498	0.397	0.771	0.057	0.053	0.134
Jun-15	4.065	2.224	1.439	0.415	0.751	0.064	0.051	0.134
Jul-15	3.906	2.121	1.463	0.359	0.705	0.060	0.039	0.141
Aug-15	3.646	2.014	1.461	0.345	0.733	0.054	0.035	0.121
Sep-15	3.203	1.779	1.379	0.390	0.532	0.047	0.036	0.089
Oct-15	3.016	1.659	1.186	0.313	0.506	0.051	0.036	0.095
Nov-15	2.771	1.732	1.181	0.311	0.444	0.051	0.027	0.097
Dec-15	2.822	1.703	1.235	0.330	0.456	0.064	0.030	0.089
Jan-16	2.754	1.671	1.200	0.330	0.435	0.055	0.031	0.095
Feb-16	2.840	1.710	1.241	0.325	0.427	0.055	0.031	0.078
Mar-16	2.846	1.677	1.204	0.319	0.394	0.058	0.019	0.102
Apr-16	3.043	1.783	1.215	0.337	0.402	0.051	0.025	0.105
May-16	3.215	1.786	1.285	0.341	0.414	0.059	0.028	0.117
Jun-16	3.353	1.884	1.244	0.347	0.431	0.059	0.027	0.123
Jul-16	3.538	1.909	1.234	0.324	0.416	0.054	0.021	0.114
Aug-16	3.523	1.867	1.250	0.346	0.392	0.060	0.026	0.113
Sep-16	3.924	2.112	1.309	0.325	0.414	0.052	0.023	0.133
Oct-16	4.054	2.189	1.362	0.341	0.434	0.060	0.019	0.120
Nov-16	4.181	2.307	1.395	0.349	0.407	0.068	0.022	0.146
Dec-16	4.177	2.304	1.387	0.349	0.414	0.071	0.022	0.157
Jan-17	4.266	2.384	1.327	0.354	0.428	0.073	0.025	0.150
Feb-17	4.139	2.269	1.321	0.327	0.452	0.071	0.023	0.146
Mar-17	4.214	2.402	1.315	0.352	0.414	0.074	0.023	0.143
Apr-17	4.036	2.291	1.243	0.323	0.383	0.074	0.019	0.145
May-17	4.085	2.287	1.144	0.319	0.350	0.067	0.018	0.149
Jun-17	3.806	2.289	1.141	0.312	0.366	0.064	0.018	0.145
Jul-17	3.703	2.067	1.115	0.320	0.373	0.068	0.020	0.142
Aug-17	3.780	2.220	1.050	0.317	0.348	0.066	0.019	0.124
Sep-17	3.631	2.272	1.045	0.319	0.347	0.074	0.018	0.147
Oct-17	3.611	2.147	0.957	0.296	0.371	0.063	0.018	0.151
Nov-17	3.367	2.111	0.957	0.315	0.364	0.088	0.022	0.137
Dec-17	3.222	2.112	0.899	0.300	0.363	0.070	0.017	0.132
Jan-18	3.157	1.995	0.941	0.277	0.340	0.072	0.012	0.127
Feb-18	3.352	2.036	0.901	0.292	0.313	0.067	0.015	0.139
Mar-18	2.954	1.868	0.870	0.271	0.293	0.073	0.015	0.149
Apr-18	2.942	1.812	0.891	0.277	0.268	0.075	0.014	0.130
May-18	2.900	1.868	0.931	0.265	0.312	0.068	0.017	0.132
Jun-18	2.883	1.795	0.962	0.231	0.289	0.067	0.013	0.122
Jul-18	2.781	1.823	0.941	0.278	0.282	0.073	0.013	0.117
Aug-18	2.694	1.695	0.866	0.250	0.285	0.073	0.011	0.119
Sep-18	2.631	1.701	0.812	0.258	0.262	0.068	0.015	0.106
Oct-18	2.426	1.748	0.824	0.290	0.271	0.068	0.012	0.115
Nov-18	2.383	1.573	0.754	0.241	0.240	0.069	0.013	0.106
Dec-18	2.301	1.445	0.713	0.238	0.220	0.065	0.011	0.104
Jan-19	2.140	1.412	0.687	0.238	0.218	0.056	0.010	0.100
Feb-19	2.203	1.432	0.722	0.248	0.217	0.063	0.011	0.109
Mar-19	2.088	1.373	0.688	0.229	0.232	0.062	0.009	0.094
Apr-19	2.034	1.376	0.692	0.228	0.229	0.074	0.010	0.111
May-19	1.973	1.339	0.708	0.244	0.210	0.064	0.011	0.106
Jun-19	2.074	1.377	0.697	0.235	0.195	0.054	0.010	0.096
Jul-19	2.114	1.484	0.723	0.238	0.226	0.071	0.012	0.113
Aug-19	2.192	1.578	0.767	0.252	0.237	0.077	0.007	0.110
Sep-19	2.123	1.551	0.772	0.244	0.234	0.073	0.012	0.085
Oct-19	2.096	1.662	0.771	0.228	0.222	0.070	0.010	0.126
Nov-19	2.200	1.683	0.781	0.233	0.229	0.073	0.020	0.130
Dec-19	2.258	1.735	0.820	0.247	0.235	0.067	0.015	0.125
Jan-20	2.303	1.685	0.800	0.278	0.250	0.070	0.013	0.114
Feb-20	2.081	1.602	0.840	0.203	0.242	0.074	0.015	0.074
Mar-20	2.018	1.518	0.780	0.225	0.223	0.067	0.012	0.108
Apr-20	2.063	1.684	0.584	0.216	0.176	0.058	0.012	0.094
May-20	1.645	1.267	0.540	0.185	0.156	0.048	0.008	0.096
Jun-20	1.951	1.338	0.633	0.215	0.195	0.063	0.012	0.086
Jul-20	2.032	1.371	0.665	0.222	0.233	0.066	0.009	0.097
Aug-20	2.045	1.398	0.759	0.244	0.283	0.062	0.011	0.136
Sep-20	2.303	1.493	0.821	0.279	0.345	0.072	0.012	0.130
Oct-20	2.398	1.204	0.845	0.266	0.314	0.084	0.015	0.130
Nov-20	2.427	1.300	0.902	0.262	0.368	0.068	0.012	0.152
Dec-20	2.632	1.581	1.034	0.255	0.380	0.096	0.015	0.156
Jan-21	2.833	1.773	1.121	0.291	0.390	0.099	0.024	0.173
Feb-21	2.761	1.915	1.157	0.311	0.404	0.089	0.018	0.185
Mar-21	3.032	2.119	1.308	0.328	0.434	0.099	0.020	0.171
Apr-21	3.252	2.230	1.451	0.357	0.467	0.094	0.029	0.179
May-21	3.439	2.368	1.498	0.352	0.482	0.115	0.026	0.189
Jun-21	3.620	2.485	1.592	0.393	0.505	0.116	0.024	0.228
Jul-21	3.862	2.517	1.745	0.392	0.527	0.115	0.030	0.248
Aug-21	3.903	2.600	1.860	0.399	0.517	0.120	0.040	0.233
Sep-21	3.997	2.635	1.941	0.454	0.575	0.134	0.032	0.238
Oct-21	3.833	2.584	2.137	0.486	0.584	0.131	0.047	0.219
Nov-21	4.299	2.738	2.208	0.512	0.612	0.137	0.037	0.216
Dec-21	4.369	2.854	2.234	0.521	0.613	0.137	0.037	0.237
Jan-22	4.783	3.044	2.306	0.558	0.657	0.131	0.034	0.265
Feb-22	4.345	3.030	2.330	0.520	0.686	0.130	0.026	0.265
Mar-22	4.205	3.072	2.226	0.564	0.718	0.134	0.036	0.288
Apr-22	4.042	2.945	2.224	0.535	0.708	0.127	0.032	0.296
May-22	3.973	2.839	2.154	0.525	0.738	0.135	0.033	0.271
Jun-22	3.697	2.755	2.109	0.502	0.691	0.135	0.035	0.247
Jul-22	3.439	2.551	1.906	0.524	0.693	0.113	0.035	0.234
Aug-22	3.366	2.455	1.798	0.490	0.658	0.117	0.027	0.243
Sep-22	3.086	2.364	1.706	0.453	0.620	0.093	0.030	0.212
Oct-22	3.159	2.386	1.623	0.444	0.631	0.090	0.032	0.234
Nov-22	3.057	2.238	1.595	0.417	0.633	0.080	0.027	0.203
Dec-22	2.965	2.085	1.533	0.436	0.680	0.087	0.028	0.203
Jan-23	3.035	2.011	1.499	0.394	0.596	0.079	0.040	0.222
Feb-23	3.111	1.989	1.508	0.416	0.633	0.093	0.028	0.187
Mar-23	2.999	1.987	1.456	0.404	0.639	0.086	0.028	0.202
Apr-23	3.051	1.950	1.558	0.421	0.678	0.085	0.021	0.138
May-23	3.215	2.041	1.607	0.470	0.696	0.086	0.034	0.188
Jun-23	3.305	2.127	1.701	0.456	0.755	0.086	0.030	0.200
Jul-23	3.358	2.079	1.817	0.445	0.746	0.091	0.046	0.190
Aug-23	3.378	2.104	1.765	0.472	0.816	0.086	0.033	0.178
Sep-23	3.461	2.243	1.796	0.469	0.842	0.077	0.028	0.191
Oct-23	3.606	2.290	1.869	0.504	0.894	0.095	0.025	0.174
Nov-23	3.629	2.258	1.940	0.541	0.889	0.084	0.032	0.229
Dec-23	3.586	2.264	1.922	0.523	0.956	0.087	0.025	0.188
Jan-24	3.698	2.142	1.919	0.550	0.988	0.089	0.032	0.178
Feb-24	3.788	2.111	2.002	0.538	1.007	0.087	0.032	0.189
Mar-24	4.024	2.133	2.145	0.558	1.063	0.089	0.035	0.192
Apr-24	4.392	2.260	2.280	0.608	1.150	0.101	0.038	0.209
May-24	4.022	2.343	2.365	0.630	1.207	0.101	0.034	0.236
Jun-24	4.206	2.326	2.288	0.631	1.183	0.103	0.039	0.256

Monthly value of new loan commitments for investor housing (excluding refinancing) - seasonally adjusted

["","NSW","VIC","QLD","SA","WA","TAS","NT","ACT"]

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[]

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Average size of loans

“Over the past 12 months, New South Wales continued to have the highest average loan sizes for both owner-occupiers and investors. In June, it rose to $780,000 for owner-occupiers and $818,000 for investors,” Dr Tan said.

First home buyer loans

The number of new owner-occupier first home buyer loans rose 0.7 per cent in June and was 3.4 per cent higher compared to a year ago. The June growth was driven by a rise of 6.5 per cent in Victoria, which since June 2017 has continued to have the highest number of first home buyer loans of all states and territories.

Housing finance loan commitments by property purpose and state, seasonally adjusted – Jun 2024
		Aus *	NSW	Vic	Qld	SA	WA	Tas	NT	ACT
Owner-occupiers
	Value ($b) :	18.2	5.6	5.1	3.7	1.0	2.1	0.3	0.08	0.4
	Value change ($m):	83	56	116	-26	6	13	1	-4	51
	Value % change ** :	0.5	1.0	2.3	-0.7	0.5	0.6	0.4	-4.9	13.3 †
Owner-occupier first home buyers
	Number change:	65	-27	202	-59	1	-14	-16	-4	27
	Number % change ** :	0.7	-1.1	6.5	-3.1	0.2	-1.0	-9.8	-6.0	11.5 †
Investors
	Value change ($m):	288	184	-16	-77	1	-24	2	5	20
	Value % change ** :	2.7	4.6	-0.7	-3.3	0.1	-1.9	2.2	15.1	8.6

* Total Australia levels do not necessarily equal the sum of states, due to independent seasonal adjustment

** All movements are on a month-to-month basis

† A smaller and more volatile series

Personal finance

The value of new loan commitments for total fixed term personal finance rose 1.1 per cent to $2.6 billion and was 11.7 per cent higher compared to a year ago. Lending for the purchase of road vehicles rose 0.5 per cent in the month.

More information is available in Lending Indicators, Australia.

Media notes

All figures are seasonally adjusted unless noted otherwise.
Lending Indicators reverted to concurrent seasonal adjustment in the October 2022 release. This method of seasonal adjustment will result in revisions to historical data each month. For more information, see the methodology page.
When reporting ABS data you must attribute the Australian Bureau of Statistics (or the ABS) as the source.
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APA

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