Lending figures point to a continuing increase in owner occupier activity

December 9th,2015

The latest housing finance figures released today by the Australian Bureau of Statistics (ABS) show a continued increase in owner occupier lending.

The Real Estate Institute of Australia (REIA) says the figures for October 2015 show, in trend terms that the number of owner-occupied finance commitments increased by 0.8 per cent. This increase is the same as for the previous two months. If refinancing is excluded, in trend terms for October, the number of owner-occupied finance commitments increased by 0.8 per cent – the fifth consecutive month of increases.

REIA President, Neville Sanders says, “increases were recorded in New South Wales, Victoria, South Australia and the Australian Capital Territory with New South Wales having the largest increase of 1.8 per cent. The largest decrease was again recorded in the Northern Territory – down 1.3 per cent and the fourteenth consecutive month of decreases.”

“In trend terms, the number of new dwellings purchase commitments increased by 1.5 per cent while new dwelling construction remained unchanged and the purchase of established dwellings increased by 0.8 per cent”.