Lending rose to yet another high in April, according to statistics released this week by the Australian Bureau of Statistics.
The latest figures show that new loans for housing rose 3.7% in April 2021 (seasonally adjusted) to a record high of $31 billion.
The value of new loans for owner-occupier housing reached another all-time high in April, up 4.3% to $23.0 billion.
Investors likewise are surging, with the figures showing new loans for that sector rose 2.1% to $8.1 billion, the highest level since mid-2017.
The rise in owner-occupier lending was driven by increased loans for existing dwellings, which rose 9.2%.
The number of loans to owner-occupiers to build new dwellings, on the other hand, fell by 11.4%, following a fall of 14.8% in March. These were the first monthly declines since the Homebuilder grant was introduced in June 2020. However, the value of construction lending remained at a high level.
The number of owner-occupier first home buyer loans fell 1.9% to 15,171 in April 2021. While this was the third consecutive month of decline, lending to this sector remained at its highest level since July 2009.