Lending to buy new homes lifted finance commitments in August, according to data released this week by the Australian Bureau of Statistics.
The figures show that the total value of dwelling finance commitments excluding alterations and additions rose 0.3 per cent in August 2014 compared with July 2014.
Lending to owner-occupiers fell by a bare 0.1 per cent. Falls were recorded in loans to buy established homes (down 0.3 per cent) and build (down 0.5 per cent), while a 2.3 per cent rise was recorded in commitments to buy new homes.
Investment lending fared better, up 0.9 per cent in August. Of this, loans to buy homes for rent or resale lifted but construction loans fell.
The figures show that the number of commitments for owner-occupier housing finance fell 0.2 per cent in August 2014, in trend terms.
Commitments fell 0.3 per cent for the purchase of established dwellings and 0.2 per cent for the construction of dwellings but rose 1.7 per cent for the purchase of new homes.
Lending to first home buyers as a percentage of the total fell to 11.8 per cent in August from 12.2 per cent the previous month.
Owner-occupier housing commitments fell in New South Wales (0.2 per cent), Western Australia (0.3 per cent), the ACT (0.2 per cent) and Tasmania (0.1 per cent). Improvements were recorded in Victoria (up 0.3 per cent), Queensland (0.3 per cent), Northern Territory (1.1 per cent) and South Australia (0.1 per cent).