Lending to investors has lifted by a third over the past year, according to data released this week by the Australian Bureau of Statistics.
The new figures show that the total value of new housing loans rose 3.9% in July to $30.6 billion.
Results were varied around Australia, with lending up 2.7% in NSW, 2.8% in both Victoria and South Australia, and 6.6% in Queensland, but down in the NT (a fall of 11.7%), and the ACT (down 14.6%). No change was recorded in WA and Tasmania.
The value of new investor loans rose 5.4% to $11.7 billion, which was 35.4% higher than July 2023. The value of owner-occupier loans rose 2.9% to $18.9 billion, 21.4% higher than July 2023.
The value of new owner-occupier first home buyer loans rose 0.8% in July, which was 19.7% higher than July 2023.
ABS head of finance statistics Mish Tan said that investors have continued to see the largest growth in new loans over the past year, increasing more than a third in value since July 2023, from $8.6 billion to $11.7 billion.
“This is close to the record high of $11.8 billion reached in January 2022”, she noted.
“The increased investor activity we’re seeing in the lending statistics is mostly because more loans are being approved, and is only partly driven by higher dwelling prices.”
Nationally, the average size of new owner-occupier loans and new investor loans reached the same all-time high of $641,000 in July.
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