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Lending slows

Lending fell again in July but remains at record highs, according to data released this week by the Australian Bureau of Statistics (ABS).

The latest figures show that the value of new housing loans fell 8.5% in July 2022 (seasonally adjusted) after a fall of 4.4% in June.

The value of new owner-occupier loans fell 7.0% in July 2022, while new lending to investors fell 11.2%.

ABS head of Finance and Wealth Katherine Keenan observed that although lending has fallen from historically high levels recently, the value of loan commitments remained significantly higher than pre-pandemic levels.

“Owner-occupier loans in July 2022 were 40% higher than February 2020, while investor loans were 78% higher”, she said.

The value of new lending to owner-occupiers fell in all states and territories except the Northern Territory, a smaller and more volatile series which rose 3.1%.

The value of refinancing of owner-occupier loans between lenders fell 1.9% in July 2022, to $12.4 billion, following the record high reached in June.

The number of loans to first home buyers fell 10.7% in July 2022 to 8,388, the lowest number since May 2019. Falls were seen across almost all states and territories, particularly Queensland (down 18.8%), Victoria (down 12.6%) and New South Wales (down 11.6%).

About Adam Nobel

CEO | Principal
M. Bus, Grad Dip Adv, B.Int Bus, LREA


0417 007 001

Adam is the founder and Principal of Hugo Alexander Property Group. With a previous career in advertising, 22 years experience in property investment, and 16 years in Brisbane real estate, he knows the market inside out to ensure his clients grow their wealth faster.

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