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Source: Australian Bureau of Statistics 2

MEDIA RELEASE

7 August 2019 Embargoed: 11:30 am (Canberra time)

New lending to households rises 1.3 per cent

The value of new lending commitments to households rose 1.3 per cent in June 2019, seasonally adjusted, according to the latest Australian Bureau of Statistics (ABS) figures on new lending to households and businesses.

The rise in new lending to households in June follows a 1.6 per cent fall in May 2019.

Director of Financial Statistics, Ben Dorber said: “Consistent with recent house price movements, the decline in new lending commitments for dwellings has slowed in recent months.“

“In June we saw rises in new lending commitments for both owner occupier and investor dwellings for the first time in over a year. Investor lending, however, remains well down from its peak and the rise in June was relatively small, up 0.5 per cent,” he said.

There were rises in new lending commitments for owner occupier dwellings for all states but falls for the territories. The rise in new lending commitments for investment dwellings was driven by the first rise in New South Wales since April 2018 (up 2.4 per cent).

The number of loans to owner occupier first home buyers rose 2.1 per cent in June and has now recorded increases in five of the six months to start 2019.

Personal finance rose 4.9 per cent in June following a 0.2 per cent fall in May, but is down 10.9 per cent on June 2018.

In trend terms, the value of new lending commitments to businesses rose 1.1 per cent in June and is up 8.2 per cent since June 2018.

More information is available in Lending to Households and Businesses, Australia (cat no. 5601.0).

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