Data Snapshot: Housing Finance - Investors Are Back in Town

Good afternoon,

The key points in this report are:


  • Overall home lending for both owner occupiers and investors, lifted in August for the third consecutive month. It adds further to evidence that the housing market is staging a recovery. 
  • It was investors which stole the show. The value of investor lending (excluding refinancing) was particularly strong, up 5.7% in August. It was the strongest increase in investor lending since September 2016. It suggests that investors are once again playing a key role in the current recovery in dwelling prices.
  • The number of owner-occupier loans (excluding refinancing) rose 0.7% in August, the fourth consecutive month of increase. The annual rate of decline eased from 8.4% in July to 5.1% in August, the best result since June 2018.
  • On an annual basis, owner-occupier loans in all States and territories declined in August. The rate of annual decline however, eased in NSW, Victoria, Queensland, Western Australia and Tasmania. Annual rates deteriorated in South Australia, the Northern Territory and the ACT.
  • First home buyers as a proportion of owner-occupier loans, edged higher in August, rising from 19.5% in July to 19.6% in August.  Despite recent price increases, affordability has improved for first home buyers as prices are still well below their peaks and interest rates have fallen.
  • Today provides further evidence that demand in the housing market is picking up, and corresponds with the lift in prices over recent months. In particular, investors are driving the increase. Low interest rates and the prospect of a further reduction suggest this recovery will continue. Nonetheless, we do not expect a return to the strong price growth over 2012 to 2017. 


Please see the attached report for more information.




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Data Snapshot: Housing Financ&hellip