The number of new owner-occupier loan commitments for dwellings rose 2.5 per cent in August 2023, but remained 12.3 per cent lower compared to last year, according to data released today by the Australian Bureau of Statistics (ABS).
Mish Tan, ABS head of finance statistics, said: “Since February 2023, the number of new owner‑occupier loans appears to have returned to levels seen before the COVID-19 pandemic began, well below the peak in January 2021.”
The number of refinanced owner-occupier loan commitments between lenders fell 5.4 per cent to 26,539, after reaching an all-time high last month.
“Since November 2022, the number of refinanced loans has been above the number of new owner‑occupier loan commitments. Refinancing has remained at unprecedented levels as households continued to seek better loans amid a high interest rate environment,” Ms Tan said.
| Number of new owner-occupier dwelling loans (‘000s) | Number of owner-occupier refinances (‘000s) | |
|---|---|---|
| Jul-02 | 31.13 | 11.319 |
| Aug-02 | 29.745 | 10.817 |
| Sep-02 | 29.563 | 10.599 |
| Oct-02 | 29.783 | 10.956 |
| Nov-02 | 29.727 | 11.015 |
| Dec-02 | 30.022 | 11.17 |
| Jan-03 | 32.633 | 11.525 |
| Feb-03 | 31.893 | 11.809 |
| Mar-03 | 31.196 | 12.344 |
| Apr-03 | 31.903 | 12.295 |
| May-03 | 32.482 | 12.449 |
| Jun-03 | 32.855 | 13.297 |
| Jul-03 | 33.228 | 13.381 |
| Aug-03 | 33.119 | 13.802 |
| Sep-03 | 32.881 | 14.131 |
| Oct-03 | 33.295 | 14.349 |
| Nov-03 | 31.329 | 14.566 |
| Dec-03 | 30.113 | 14.795 |
| Jan-04 | 28.053 | 14.259 |
| Feb-04 | 27.561 | 12.804 |
| Mar-04 | 27.584 | 12.796 |
| Apr-04 | 27.374 | 12.785 |
| May-04 | 27.422 | 12.398 |
| Jun-04 | 27.354 | 12.5 |
| Jul-04 | 27.738 | 12.25 |
| Aug-04 | 27.888 | 12.067 |
| Sep-04 | 28.031 | 11.938 |
| Oct-04 | 28.018 | 11.766 |
| Nov-04 | 28.867 | 11.904 |
| Dec-04 | 29.528 | 12.197 |
| Jan-05 | 30.352 | 12.652 |
| Feb-05 | 31.106 | 13.39 |
| Mar-05 | 30.964 | 13.914 |
| Apr-05 | 30.394 | 14.428 |
| May-05 | 29.863 | 14.469 |
| Jun-05 | 30.176 | 14.121 |
| Jul-05 | 30.127 | 14.528 |
| Aug-05 | 30.548 | 14.296 |
| Sep-05 | 31.624 | 14.992 |
| Oct-05 | 32.245 | 14.732 |
| Nov-05 | 32.344 | 14.497 |
| Dec-05 | 32.061 | 14.448 |
| Jan-06 | 32.115 | 13.99 |
| Feb-06 | 32.672 | 14.319 |
| Mar-06 | 32.982 | 14.569 |
| Apr-06 | 33.448 | 14.272 |
| May-06 | 34.329 | 15.351 |
| Jun-06 | 34.066 | 15.483 |
| Jul-06 | 35.053 | 15.839 |
| Aug-06 | 33.625 | 16.329 |
| Sep-06 | 32.545 | 16.316 |
| Oct-06 | 32.333 | 16.42 |
| Nov-06 | 32.172 | 16.252 |
| Dec-06 | 32.518 | 15.4 |
| Jan-07 | 32.578 | 15.563 |
| Feb-07 | 32.781 | 15.076 |
| Mar-07 | 33.697 | 14.889 |
| Apr-07 | 34.695 | 15.956 |
| May-07 | 35.072 | 15.06 |
| Jun-07 | 35.722 | 14.796 |
| Jul-07 | 34.649 | 13.869 |
| Aug-07 | 35.318 | 14.691 |
| Sep-07 | 33.594 | 14.666 |
| Oct-07 | 34.273 | 13.854 |
| Nov-07 | 34.144 | 15.281 |
| Dec-07 | 33.174 | 15.562 |
| Jan-08 | 33.617 | 16.564 |
| Feb-08 | 31.461 | 15.647 |
| Mar-08 | 29.173 | 14.748 |
| Apr-08 | 27.284 | 14.404 |
| May-08 | 25.474 | 13.089 |
| Jun-08 | 24.648 | 13.007 |
| Jul-08 | 24.76 | 12.616 |
| Aug-08 | 23.987 | 12.569 |
| Sep-08 | 24.282 | 11.369 |
| Oct-08 | 24.951 | 11.576 |
| Nov-08 | 25.223 | 11.923 |
| Dec-08 | 27.68 | 12.356 |
| Jan-09 | 30.322 | 12.478 |
| Feb-09 | 31.265 | 11.57 |
| Mar-09 | 33.769 | 12.497 |
| Apr-09 | 34.169 | 12.625 |
| May-09 | 34.115 | 12.348 |
| Jun-09 | 34.543 | 12.085 |
| Jul-09 | 33.746 | 11.774 |
| Aug-09 | 32.804 | 10.988 |
| Sep-09 | 33.791 | 10.782 |
| Oct-09 | 32.622 | 10.656 |
| Nov-09 | 29.796 | 10.119 |
| Dec-09 | 27.828 | 10.001 |
| Jan-10 | 26.221 | 9.392 |
| Feb-10 | 25.554 | 9.648 |
| Mar-10 | 24.411 | 9.491 |
| Apr-10 | 23.935 | 9.418 |
| May-10 | 24.29 | 9.614 |
| Jun-10 | 23.076 | 9.728 |
| Jul-10 | 23.494 | 9.979 |
| Aug-10 | 23.339 | 10.214 |
| Sep-10 | 23.364 | 10.212 |
| Oct-10 | 23.267 | 10.571 |
| Nov-10 | 23.69 | 10.685 |
| Dec-10 | 24.233 | 11.777 |
| Jan-11 | 22.927 | 11.22 |
| Feb-11 | 22.484 | 10.47 |
| Mar-11 | 22.564 | 10.089 |
| Apr-11 | 22.861 | 10.969 |
| May-11 | 22.996 | 11.879 |
| Jun-11 | 23.103 | 11.703 |
| Jul-11 | 22.994 | 12.032 |
| Aug-11 | 23.112 | 12.273 |
| Sep-11 | 22.928 | 12.494 |
| Oct-11 | 23.35 | 12.258 |
| Nov-11 | 23.761 | 12.296 |
| Dec-11 | 25.524 | 12.779 |
| Jan-12 | 24.778 | 13.111 |
| Feb-12 | 22.751 | 13.042 |
| Mar-12 | 23.305 | 13.098 |
| Apr-12 | 23.491 | 12.869 |
| May-12 | 23.561 | 12.66 |
| Jun-12 | 23.797 | 12.298 |
| Jul-12 | 23.985 | 12.003 |
| Aug-12 | 24.608 | 12.161 |
| Sep-12 | 24.803 | 12.02 |
| Oct-12 | 24.683 | 12.106 |
| Nov-12 | 24.528 | 12.1 |
| Dec-12 | 24.691 | 11.824 |
| Jan-13 | 25.144 | 11.883 |
| Feb-13 | 25.339 | 11.959 |
| Mar-13 | 26.915 | 12.261 |
| Apr-13 | 26.79 | 12.652 |
| May-13 | 27.401 | 12.936 |
| Jun-13 | 27.51 | 13.223 |
| Jul-13 | 28.14 | 13.25 |
| Aug-13 | 26.988 | 12.96 |
| Sep-13 | 27.881 | 13.735 |
| Oct-13 | 28.17 | 13.134 |
| Nov-13 | 28.62 | 13.15 |
| Dec-13 | 27.578 | 12.803 |
| Jan-14 | 28.047 | 12.654 |
| Feb-14 | 28.284 | 13.531 |
| Mar-14 | 28.012 | 12.148 |
| Apr-14 | 27.939 | 12.395 |
| May-14 | 28.068 | 12.609 |
| Jun-14 | 28.071 | 12.547 |
| Jul-14 | 27.798 | 12.836 |
| Aug-14 | 27.655 | 13.116 |
| Sep-14 | 27.658 | 12.867 |
| Oct-14 | 27.988 | 13.377 |
| Nov-14 | 26.774 | 13.252 |
| Dec-14 | 28.25 | 13.558 |
| Jan-15 | 28.415 | 13.738 |
| Feb-15 | 28.076 | 13.987 |
| Mar-15 | 28.558 | 14.304 |
| Apr-15 | 28.61 | 14.773 |
| May-15 | 26.383 | 14.086 |
| Jun-15 | 28.243 | 14.713 |
| Jul-15 | 28.355 | 14.482 |
| Aug-15 | 29.538 | 14.249 |
| Sep-15 | 29.776 | 14.817 |
| Oct-15 | 29.003 | 15.066 |
| Nov-15 | 28.619 | 15.563 |
| Dec-15 | 29.031 | 16.746 |
| Jan-16 | 28.4 | 15.723 |
| Feb-16 | 28.854 | 15.675 |
| Mar-16 | 28.502 | 16.393 |
| Apr-16 | 29.026 | 16.788 |
| May-16 | 28.92 | 16.485 |
| Jun-16 | 28.928 | 16.246 |
| Jul-16 | 27.918 | 16.203 |
| Aug-16 | 27.644 | 15.218 |
| Sep-16 | 27.708 | 15.895 |
| Oct-16 | 27.899 | 15.251 |
| Nov-16 | 28.147 | 14.952 |
| Dec-16 | 29.04 | 14.519 |
| Jan-17 | 29.682 | 15.286 |
| Feb-17 | 29.355 | 14.399 |
| Mar-17 | 29.881 | 14.291 |
| Apr-17 | 30.244 | 13.621 |
| May-17 | 29.433 | 13.894 |
| Jun-17 | 30.364 | 13.508 |
| Jul-17 | 31.391 | 13.394 |
| Aug-17 | 32.231 | 13.747 |
| Sep-17 | 31.041 | 13.74 |
| Oct-17 | 30.696 | 13.79 |
| Nov-17 | 30.422 | 14.108 |
| Dec-17 | 29.726 | 14.275 |
| Jan-18 | 29.628 | 14.382 |
| Feb-18 | 29.313 | 14.158 |
| Mar-18 | 28.685 | 13.608 |
| Apr-18 | 28.325 | 13.812 |
| May-18 | 28.894 | 13.693 |
| Jun-18 | 28.735 | 13.022 |
| Jul-18 | 28.851 | 13.886 |
| Aug-18 | 28.061 | 13.657 |
| Sep-18 | 27.625 | 13.537 |
| Oct-18 | 28.376 | 13.858 |
| Nov-18 | 27.398 | 13.671 |
| Dec-18 | 25.363 | 13.452 |
| Jan-19 | 25.353 | 12.998 |
| Feb-19 | 25.611 | 13.271 |
| Mar-19 | 24.69 | 13.021 |
| Apr-19 | 24.493 | 12.736 |
| May-19 | 24.297 | 12.651 |
| Jun-19 | 24.748 | 11.659 |
| Jul-19 | 25.349 | 12.619 |
| Aug-19 | 25.603 | 13.212 |
| Sep-19 | 25.912 | 13.795 |
| Oct-19 | 26.198 | 13.692 |
| Nov-19 | 26.943 | 14.144 |
| Dec-19 | 26.857 | 14.603 |
| Jan-20 | 26.894 | 15.269 |
| Feb-20 | 26.276 | 15.61 |
| Mar-20 | 25.705 | 14.817 |
| Apr-20 | 24.389 | 16.073 |
| May-20 | 22.253 | 19.984 |
| Jun-20 | 24.326 | 18.969 |
| Jul-20 | 27.168 | 14.474 |
| Aug-20 | 30.062 | 15.219 |
| Sep-20 | 32.89 | 17.128 |
| Oct-20 | 32.9 | 16 |
| Nov-20 | 33.81 | 13.788 |
| Dec-20 | 35.899 | 15.328 |
| Jan-21 | 40.318 | 17.098 |
| Feb-21 | 39.624 | 18.96 |
| Mar-21 | 38.935 | 17.898 |
| Apr-21 | 38.645 | 19.345 |
| May-21 | 38.495 | 20.001 |
| Jun-21 | 38.086 | 20.526 |
| Jul-21 | 37.115 | 21.98 |
| Aug-21 | 35.77 | 22.083 |
| Sep-21 | 34.394 | 20.97 |
| Oct-21 | 33.622 | 21.369 |
| Nov-21 | 34.32 | 21.044 |
| Dec-21 | 34.511 | 21.3 |
| Jan-22 | 34.838 | 19.31 |
| Feb-22 | 32.888 | 20.934 |
| Mar-22 | 32.01 | 21.622 |
| Apr-22 | 30.994 | 21.93 |
| May-22 | 31.285 | 23.124 |
| Jun-22 | 30.432 | 24.097 |
| Jul-22 | 29.411 | 23.594 |
| Aug-22 | 28.964 | 24.595 |
| Sep-22 | 27.691 | 24.674 |
| Oct-22 | 26.56 | 23.995 |
| Nov-22 | 25.636 | 26.121 |
| Dec-22 | 24.089 | 25.394 |
| Jan-23 | 23.983 | 25.908 |
| Feb-23 | 23.429 | 26.786 |
| Mar-23 | 24.726 | 27.654 |
| Apr-23 | 24.894 | 26.264 |
| May-23 | 26.301 | 27.463 |
| Jun-23 | 25.32 | 26.957 |
| Jul-23 | 24.774 | 28.041 |
| Aug-23 | 25.404 | 26.539 |
The value of new owner-occupier loan commitments grew in all states and territories except the Australian Capital Territory.
| Aus * | NSW | Vic | Qld | SA | WA | Tas | NT | ACT | ||
|---|---|---|---|---|---|---|---|---|---|---|
| Owner-occupiers | ||||||||||
| Value ($b) : | 16.1 | 5.1 | 4.5 | 3.1 | 1.0 | 1.7 | 0.2 | 0.08 | 0.4 | |
| Value change ($m): | 407 | 106 | 176 | 89 | 112 | 78 | 37 | 19 | -12 | |
| Value % change ** : | 2.6 | 2.1 | 4.0 | 2.9 | 12.9 | 4.9 | 17.9 | 30.4 | -3.3 | |
| Investors | ||||||||||
| Value change ($m): | 136 | 44 | 5 | -78 | 23 | 102 | -3 | -6 | -16 | |
| Value % change ** : | 1.6 | 1.3 | 0.2 | -4.2 | 5.2 | 14.1 | -3.5 | -14.7 | -8.1 | |
* Total Australia levels do not necessarily equal the sum of states, due to independent seasonal adjustment
** All movements are on a month-to-month basis
† A smaller and more volatile series
The value of new loan commitments for total fixed term personal finance rose 6.1 per cent to $2.5 billion. This was driven by a 5.9 per cent ($81 million) rise in lending for the purchase of road vehicles.
