Key Statistics
- Loan commitments for housing declined by 2.9%
- Personal fixed-term loans experienced an increase of 1.5%
- Business construction loan commitments, typically volatile, rose significantly by 44.0%
- In trend terms, there was a more modest increase of 2.0%
- Loan commitments for business property purchases, also known for their volatility, saw a notable rise of 9.8%. In trend terms, there was a minor increase of 0.3%
Home Loan Statistics
In April 2023, the value of new loan commitments experienced changes according to data from the Australian Bureau of Statistics.
For owner-occupiers, there was a decline of 3.8% in loan commitments, following a previous increase of 6.3% in March. This indicates a reversal in the upward trend observed in the last month. Similarly, for investors, there was a decrease of 0.9% in loan commitments, which came after a rise of 3.4% in March. This indicates a shift from the previous month’s growth.
The total housing loan commitments decreased by 2.9% to reach $23.3 billion, following a previous increase of 5.3% in March. However, compared to the same period last year, the total housing loan commitments were significantly lower, with a decline of 25.8%.
For owner-occupier housing, the loan commitments dropped by 3.8% to $15.4 billion. Compared to a year ago, the owner-occupier loan commitments were 24.3% lower. Investor housing loan commitments also experienced a decline of 0.9% to $7.9 billion. Investor loan commitments were 28.6% lower than last year’s period.
The total housing external refinancing value declined by 9.2% to $19.3 billion. This followed a record high of $21.3 billion in March. However, compared to last year’s period, the total housing external refinancing value increased by 14.2%.
The external refinancing value fell 8.6% for owner-occupier housing to $13.0 billion. Nevertheless, it was 13.5% higher compared to the previous year.
Similarly, the external refinancing value for investor housing experienced a decrease of 10.4% to $6.3 billion. However, compared to last year, it showed a notable increase of 15.6%.
These figures indicate a decline in external refinancing values across the housing sector in April 2023, following a record high in the previous month. Nonetheless, there has been an overall upward trend compared to last year’s period, suggesting continued interest in external refinancing in the housing market.
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