A study of Australian new-borrower-accepted finance commitments for housing, personal and business loans.
This project utilised data retrieved from the Australian Bureau of Statistics (ABS) and Finder.com.au to analyse data relating to borrower-accepted finance commitments for housing, personal and business loans.
The project also analysed first-home buyer commitments during the period of 2004 to 2022.
The charts below indicate that in March 2022, in seasonally adjusted terms, the value of new home loan commitments rose by 1.6% for housing and 23.6% for business constructions.
Conversely, the value of new loan commitments fell 0.4% for personal fixed-term loans, and 16.8% for business purchases of property.
In March 2022, in seasonally adjusted terms, the value of new loan commitments for total housing rose 1.6% to $33.3b following a fall of 3.5% in February (after reaching a record high of $33.9b in January 2022).
Additionally, the value of new loan commitments for owner-occupier housing also rose 0.9% to $21.6b and was 2.2% lower compared to 12-months prior.
Finally, the value of new loan commitments for investor housing also rose 2.9%, reaching a record high of $11.7b.
In March 2022, in seasonally adjusted terms, the value of external refinancing for total housing rose 4.6% and was 28.2% higher compared to a year ago.
Additionally, the value of external refinancing for owner-occupied housing rose 4.0%, slowing down from an 11.5% increase the month prior.
Finally, the value of external refinancing for investor housing also rose 5.7% and was 25.0% higher compared to a year ago.
In March 2022, in seasonally adjusted terms, the value of new loan commitments for fixed term personal finance fell 0.4%.
Additionally, the value of new loan commitments for the purchase of road vehicles fell 2.2%, while the loan value for personal investments fell 3.3%.
In March 2022, in seasonally adjusted terms, the value of new business loan commitments for total construction finance rose 23.6% after a fall of 40.2% in the previous month.
Additionally, the value of new business loan commitments related to the purchase of property continued to fall 16.8% after a fall of 3.0% the month prior.
In March 2022, in seasonally adjusted terms, the value of new loan commitments to owner-occupiers rose 0.9%, recovering from a 4.7% fall the month prior.
Addtionally, the value of new loan commitments to investor occupiers rose 2.9% to a record high of $11.7b.
In March 2022, in original terms, the value of new variable rate home loan commitments funded in the month rose 27.9%.
Conversely, the value of new fixed rate home loan commitments funded in the month fell 9.8%.
In 2021, the 12-month average national mortgage size was $553,897 – 11.7% higher than the previous year and a staggering 55.5% higher than the same period a decade prior.
In March 2022, in original terms, the value of average loan sizes for owner-occupier dwellings (which includes construction and the purchase of new and existing dwellings) rose 1.2% at the national level from $593,000 to $600,000.
Additionally, the value of average loan sizes also rose in New South Wales, Victoria, South Australia and Tasmania, while falling in Queensland and Western Australia.
In March 2021, the total first home buyer market share fell 4% compared to the year prior, while rising 3% compared to a decade earlier.
In March 2022, in seasonally adjusted terms for owner-occupier first home buyers, the number of new loan commitments rose 4.2% at the national level and across all states and territories, except Tasmania.
Additionally, the number of new loan commitments rose:
- 12.5% in New South Wales
- 5.9% in Queensland
- 6.5% in Western Australia
- 44.2% in the Australian Capital Territory
- 1.1% in Victoria
- 19.6% in the Northern Territory, and
- 0.5% in South Australia
Conversely, the number of new loan commitments in Tasmania fell 3.2%.
In March 2022, the first home buyer ratio for housing loans was highest in Victoria at 29.7%.
Conversely, the first home buyer ratio for housing loans was lowest in South Australia at 21.1%.
In March 2022, the total number of first home buyer loans fell 32.8% from 12-months prior.
Conversely, the total number of first home buyer loans recorded in March 2022 was 44.1% higher than the same period a decade before.
The Australian Bureau of Statistics (ABS), Lending Indicators, https://www.abs.gov.au/statistics/economy/finance/lending-indicators/latest-release
Finder.com.au, Average Australian Mortgage Statistics, https://www.finder.com.au/australian-home-loan-statistics