Home Loan Statistics: November 2023 (Lending Indicators)

Key statistics

In November 2023, new loan commitments (seasonally adjusted):

rose 1.0% for housing
fell 5.6% for personal fixed-term loans
fell 4.8% for business construction (a typically volatile series) and rose 0.6% in trend terms
fell 6.4% for business purchase of property (a typically volatile series) but was flat in trend terms

Value of new borrower-accepted loan commitments (seasonally adjusted)

Housing finance

In November 2023, in seasonally adjusted terms, the value of new loan commitments:

for total housing rose 1.0% to $27.6b, after a rise of 7.1% in October. It was therefore 13.1% higher compared to a year ago.
secondly, for owner-occupier housing rose 0.5% to $17.9b and was 10.6% higher compared to a year ago
finally, for investor housing rose 1.9% to $9.7b and was 18.0% higher compared to a year ago

In November 2023, in seasonally adjusted terms, the value of external refinancing:

First, for total housing rose 0.7% to $17.5b but was 11.9% lower compared to a year ago
Secondly, for owner-occupier housing rose 1.5% to $11.6b but was 15.5% lower compared to a year ago
Thirdly, for investor housing fell 0.7% to $5.9b and was 3.9% lower compared to a year ago

Personal finance

In November 2023, in seasonally adjusted terms, the value of new loan commitments:

For fixed term personal finance fell 5.6%, after a rise of 2.6% in October
For road vehicles fell 5.4%
Also, for personal investment fell 1.2%

Business finance

In November 2023, in seasonally adjusted terms, the value of new loan commitments:

Doubtedly, construction finance fell 4.8%, after a rise of 1.2% in October. In trend terms, it rose 0.6%.
Consequently, the purchase of property fell 6.4%, after a fall of 3.7% in October. In trend terms, it was flat.

Small numbers of high value loans affect these series. Therefore, they can have volatile month-to-month movements in seasonally adjusted terms.

Housing finance (detailed)

Value of new loan commitments by purpose (seasonally adjusted)

Number of new loan commitments by purpose (seasonally adjusted)

Seasonally adjusted terms, the value of new loan commitments in November 2023 :

Certainly, the owner occupiers rose 0.5%, after a rise of 8.3% in October
to investors rose 1.9%, after a rise of 4.9% in October

In November 2023, in seasonally adjusted terms for owner-occupier housing, the value of new loan commitments:

Firstly, for the purchase of existing dwellings fell 0.1% but was 14.1% higher comparing to a year ago
Likewise, for the construction of new dwellings rose 0.7% but was 12.4% lower comparing to a year ago
Finally, for the purchase of new dwellings rose 2.5% and was 4.2% higher comparing to a year ago

November 2023, in seasonally adjusted terms for owner-occupier housing, the value of new loan commitments:

in Queensland rose 3.3%, in Victoria rose 2.0%, in South Australia rose 6.9%, in the Australian Capital Territory rose 9.4% and in the Northern Territory rose 6.0%
in New South Wales fell 1.1%, in Western Australia fell 2.9% and in Tasmania fell 15.2%

The Tasmania, Northern Territory, and Australian Capital Territory series are smaller and typically more volatile.

In November 2023, in seasonally adjusted terms for investor housing, the value of new loan commitments:

in Queensland rose 3.7%, in Victoria rose 2.2%, in the Australian Capital Territory rose 18.4%, in South Australia rose 6.1%, in Western Australia rose 0.5% and in the Northern Territory rose 6.9%
in New South Wales fell 1.4% and in Tasmania fell 11.8%

The Tasmania, Northern Territory, and Australian Capital Territory series are smaller and typically more volatile.

In November 2023, in original terms:

the value of new variable rate loan commitments funded in the month rose 5.7%
the value of new fixed rate loan commitments funded in the month fell 10.1% to the lowest point recorded in the series

In November 2023, in original terms, average loan sizes for owner-occupier dwellings (including construction, purchase of new dwellings and existing dwellings, excluding land, alterations and additions):

fell 0.3% at the national level from $610k to $608K. It was 1.5% lower when you compare it to the record high of $618k in January 2022.

First home buyers

In November 2023, in seasonally adjusted terms for owner-occupier first home buyers, the number of new loan commitments:

First, at the national level rose 3.5% to 10,395, following a 7.6% rise in October. Consequently, It was 20.3% higher when you compare it to a year ago.
in Queensland rose 10.8%, in Western Australia rose 4.7%, in Victoria rose 1.2%, in the Australian Capital Territory rose 14.2% and in South Australia rose 3.5%
in New South Wales fell 4.8%, in Tasmania fell 34.1% and in the Northern Territory fell 1.4%

New loan commitments to owner-occupier first home buyers (original), number

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