New investor loans up 2.0 percent in September

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Released
2/11/2023
Source
Lending indicators, September 2023
Release date and time
02/11/2023 11:30am AEDT

The value of new investor loan commitments for housing rose 2.0 per cent in September 2023 and was 2.6 per cent higher compared to last year, according to data released today by the Australian Bureau of Statistics (ABS).

Mish Tan, ABS head of finance statistics, said: “Since February 2023, the value of new housing loan commitments have trended upwards, with total growth in investor loans exceeding owner-occupier loans. That said, the total value of new housing loan commitments in recent months remains below the all‑time highs seen throughout the COVID-19 pandemic.”

The value of new investor loan commitments increased across most states and territories this month, driven by rises in Victoria ($127m) and New South Wales ($77m).

“The value of owner-occupier loan commitments fell by 0.1 per cent to $16.06 billion in September.” Dr Tan said.

First Home Buyers

The number of new owner-occupier first home buyer loan commitments rose 0.5 per cent in September 2023 and was 0.6 per cent lower compared to last year.

Housing finance loan commitments by property purpose and state, seasonally adjusted – September 2023
  Aus *NSWVicQldSAWATasNTACT
Owner-occupiers
 Value ($b) :16.15.14.73.10.91.60.20.070.4
 Value change ($m):-14-816411-53-50-18-710
 Value % change ** :-0.1-0.23.60.4-5.4-3.0-7.2†-9.0†2.7
Owner-occupier first home buyers
 Number change:50-158180511814-4-519
 Number % change ** :0.5-7.06.33.03.01.1-2.9-9.4†8.9†
Investors
 Value change ($m):173771275-813-13-722
 Value % change ** :2.02.36.10.3-1.71.6-14.7†-19.9†12.3†

* 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

More information is available in Lending Indicators, Australia.

Media notes

  • First home buyers – publication of the number and value of new loan commitments to first home buyers has been re-instated this month, following temporary suppression in July and August 2023. ABS and APRA have worked closely with data providers to resolve data quality issues. Please note the first home buyer series have been revised upwards back to January 2022.
  • 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.
  • For media requests and interviews, contact the ABS Media Team via media@abs.gov.au (8.30am-5pm Mon-Fri).
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