Finding tomorrow’s hot property, TODAY

New Loan Commitments Up 5%

loan stockThe latest ABS lending indicators show a 4.8% rise in new loan commitments for housing to $24.9 billion in May 2023.

New owner-occupier loan commitments rose 4%, while new investor loan commitments rose 6.2%.

The value of owner-occupier commitments is 17% higher than in February 2020, while the number is 0.2% lower.

First home buyer numbers are also up, with a 2.7% rise following a 0.3% fall in April.

Refinancing is on the up too, with the value of new loan refinances between lenders reaching a record high of $14.1 billion.

Investors were concentrated on the East Coast, with the data showing the value of new loan commitments for investor housing was up 8.5% in New South Wales, up 9% in Victoria, up 17.5% in South Australia, up 4.5% in Queensland, up 33.3% in ACT, up 33.2% in Northern Territory, and up 7.2% in Tasmania; Western Australia recorded a fall of 0.9%.


Subscribe to our newsletter today and receive a FREE copy of How To Identify Hotspots