Housing Finance

The value of new home loans (excluding refinancing) rose by 1.5% in February, somewhat less than the 2.0% pencilled in by the consensus. The January figures were revised upwards, to show a decline of 0.8% rather than the 3.9% fall estimated initially.

The seasonally adjusted value of new home loans (excluding refinancing) saw a broad-based 3.9% decline in January, following a 4.1% fall in December. The consensus forecast was for an increase of 2.0%. Approvals were 8.5% higher year-on-year despite the back-to-back falls in December and January.

The value of new home loans (excluding refinancing) fell a seasonally adjusted 4.1% in December 2023. The consensus was for an increase of 1.0%. The number of new owner occupier construction loans rose 5.0%, but remained close to record lows.

The value of new home loans (excluding refinancing) rose for the fourth month in a row in November, with a seasonally adjusted increase of 1.0% (exp. 1.3%) The gain followed an upwardly revised 7.1% increase in October (originally 5.4%).

The value of new home loans (excluding refinancing) rose a seasonally adjusted 5.4% in October, much more than the 1.1% pencilled in by the consensus. The October increase was broad-based. The value of new home loans to owner-occupiers rose in all states, with Western Australia seeing the strongest increase.

The value of new home loans rose a seasonally adjusted 0.6% in September, slightly less than the 1.0% consensus. The September increase was led by investor loans, which picked up by 2.0% and were 2.6% higher than a year ago. Owner occupier loans saw a 0.1% decline, but loans to owner occupier first home buyers rose 1.4%.