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Lending down over Christmas

December lending data shows show a slight downward movement over the Christmas break, as consistent with other market activity.

Figures released this week by the Australian Bureau of Statistics show that owner-occupied housing finance fell 0.3 per cent in December 2017, in trend terms.

Lending to buy established homes fell 0.3 per cent, while the number of loans to buy new homes barely changed at 0.1 per cent. Loans for building new homes, however, dropped by 0.8 per cent.

Around the states, lending fell in New South Wales (down 0.6 per cent), Western Australia (1.5 per cent), Victoria (0.1 per cent), the Northern Territory (2.0 per cent) and Tasmania (0.1 per cent), while rises were recorded in Queensland (up 0.1 per cent), the Australian Capital Territory (0.6 per cent) and South Australia was flat.

The number of loans taken out by first home buyers moved ever-so-slightly down, to 17.9 per cent of the total in December 2017, from 18.0 per cent in the previous month.

The total value of dwelling finance commitments excluding alterations and additions dropped just 0.1 per cent, in trend terms. Owner occupied housing commitments rose 0.1 per cent while investment housing commitments fell 0.5 per cent.