Owner-occupier loans rose 10.1% through the year to November

The value of new owner-occupier loan commitments for dwellings rose 10.1 per cent through the year to November 2023, while the number of these commitments rose 7.3 per cent, according to data released today by the Australian Bureau of Statistics (ABS).

Mish Tan, ABS head of finance statistics, said: “November saw continued growth in the value and number of new owner-occupier dwelling loan commitments, which rose 0.1 per cent and 1.0 per cent in the month respectively.”

New owner-occupier dwelling commitments, value, Australia

	Value of new owner-occupier dwelling commitments, seasadj. ($b)	Value of new owner-occupier dwelling commitments, trend ($b)
Nov-13	10.286	10.115
Dec-13	10.04	10.218
Jan-14	10.256	10.307
Feb-14	10.488	10.381
Mar-14	10.459	10.43
Apr-14	10.437	10.444
May-14	10.356	10.425
Jun-14	10.489	10.38
Jul-14	10.395	10.327
Aug-14	10.113	10.302
Sep-14	10.255	10.309
Oct-14	10.491	10.351
Nov-14	10.095	10.425
Dec-14	10.58	10.519
Jan-15	10.716	10.616
Feb-15	10.488	10.7
Mar-15	10.94	10.782
Apr-15	10.985	10.891
May-15	10.349	11.053
Jun-15	11.141	11.277
Jul-15	11.461	11.547
Aug-15	12.326	11.813
Sep-15	12.702	12.021
Oct-15	12.296	12.13
Nov-15	12.133	12.118
Dec-15	12.03	12.018
Jan-16	11.711	11.893
Feb-16	11.823	11.798
Mar-16	11.524	11.746
Apr-16	11.779	11.718
May-16	11.836	11.69
Jun-16	11.8	11.644
Jul-16	11.51	11.591
Aug-16	11.415	11.563
Sep-16	11.542	11.584
Oct-16	11.706	11.671
Nov-16	11.79	11.828
Dec-16	12.085	12.027
Jan-17	12.249	12.226
Feb-17	12.197	12.401
Mar-17	12.71	12.555
Apr-17	12.779	12.702
May-17	12.688	12.842
Jun-17	12.85	12.97
Jul-17	13.208	13.072
Aug-17	13.408	13.127
Sep-17	13.172	13.139
Oct-17	13.001	13.117
Nov-17	13.059	13.061
Dec-17	12.917	13.001
Jan-18	13.085	12.965
Feb-18	13.165	12.962
Mar-18	12.834	12.975
Apr-18	12.774	12.972
May-18	13.15	12.927
Jun-18	12.875	12.821
Jul-18	12.911	12.646
Aug-18	12.329	12.398
Sep-18	11.965	12.09
Oct-18	12.287	11.757
Nov-18	11.55	11.453
Dec-18	10.83	11.207
Jan-19	10.786	11.021
Feb-19	11.333	10.901
Mar-19	10.9	10.847
Apr-19	10.961	10.864
May-19	10.685	10.954
Jun-19	10.978	11.125
Jul-19	11.329	11.387
Aug-19	11.727	11.743
Sep-19	12.13	12.168
Oct-19	12.517	12.581
Nov-19	13.039	12.901
Dec-19	13.227	13.064
Jan-20	13.341	13.06
Feb-20	13.044	12.934
Mar-20	13.214	12.786
Apr-20	12.428	12.749
May-20	11.168	12.926
Jun-20	11.816	13.338
Jul-20	13.019	13.942
Aug-20	14.809	14.669
Sep-20	15.859	15.449
Oct-20	16.109	16.24
Nov-20	16.837	17.036
Dec-20	17.939	17.851
Jan-21	20.101	18.684
Feb-21	20.176	19.507
Mar-21	20.402	20.246
Apr-21	20.993	20.797
May-21	21.3	21.08
Jun-21	20.897	21.092
Jul-21	21.197	20.898
Aug-21	20.369	20.613
Sep-21	19.863	20.36
Oct-21	19.046	20.227
Nov-21	20.191	20.196
Dec-21	20.45	20.194
Jan-22	21.247	20.147
Feb-22	20.077	19.994
Mar-22	19.743	19.712
Apr-22	18.98	19.334
May-22	19.082	18.889
Jun-22	18.525	18.383
Jul-22	17.678	17.806
Aug-22	17.213	17.152
Sep-22	16.535	16.436
Oct-22	15.786	15.716
Nov-22	15.006	15.08
Dec-22	14.434	14.608
Jan-23	14.193	14.328
Feb-23	14.027	14.231
Mar-23	14.64	14.273
Apr-23	14.487	14.379
May-23	15.281	14.5
Jun-23	14.708	14.648
Jul-23	14.689	14.854
Aug-23	15.039	15.139
Sep-23	15.324	15.501
Oct-23	16.51	15.895
Nov-23	16.528	16.252

New owner-occupier dwelling commitments, number, Australia

	Number of new owner-occupier dwelling commitments, seasadj.	Number of new owner-occupier dwelling commitments, trend
Nov-13	28,642	28,071
Dec-13	27,553	28,056
Jan-14	28,025	28,054
Feb-14	28,281	28,061
Mar-14	28,012	28,061
Apr-14	27,945	28,041
May-14	28,066	27,993
Jun-14	28,066	27,911
Jul-14	27,790	27,820
Aug-14	27,679	27,776
Sep-14	27,679	27,785
Oct-14	27,983	27,847
Nov-14	26,783	27,969
Dec-14	28,248	28,115
Jan-15	28,380	28,235
Feb-15	28,072	28,295
Mar-15	28,553	28,289
Apr-15	28,607	28,270
May-15	26,386	28,302
Jun-15	28,244	28,406
Jul-15	28,348	28,581
Aug-15	29,575	28,772
Sep-15	29,798	28,930
Oct-15	28,994	29,005
Nov-15	28,627	28,975
Dec-15	29,012	28,883
Jan-16	28,369	28,814
Feb-16	28,848	28,807
Mar-16	28,498	28,833
Apr-16	29,028	28,812
May-16	28,931	28,685
Jun-16	28,921	28,450
Jul-16	27,912	28,162
Aug-16	27,681	27,927
Sep-16	27,720	27,860
Oct-16	27,898	28,007
Nov-16	28,149	28,350
Dec-16	29,028	28,798
Jan-17	29,652	29,230
Feb-17	29,338	29,590
Mar-17	29,885	29,894
Apr-17	30,204	30,175
May-17	29,478	30,452
Jun-17	30,357	30,727
Jul-17	31,398	30,953
Aug-17	32,267	31,042
Sep-17	31,063	30,956
Oct-17	30,696	30,705
Nov-17	30,412	30,313
Dec-17	29,720	29,848
Jan-18	29,616	29,413
Feb-18	29,284	29,077
Mar-18	28,682	28,853
Apr-18	28,314	28,727
May-18	28,904	28,649
Jun-18	28,747	28,557
Jul-18	28,846	28,395
Aug-18	28,079	28,120
Sep-18	27,673	27,719
Oct-18	28,385	27,213
Nov-18	27,367	26,661
Dec-18	25,357	26,101
Jan-19	25,326	25,552
Feb-19	25,574	25,074
Mar-19	24,673	24,733
Apr-19	24,495	24,579
May-19	24,302	24,615
Jun-19	24,757	24,822
Jul-19	25,392	25,163
Aug-19	25,632	25,590
Sep-19	25,964	26,035
Oct-19	26,188	26,409
Nov-19	26,940	26,659
Dec-19	26,807	26,740
Jan-20	26,860	26,613
Feb-20	26,274	26,265
Mar-20	25,642	25,765
Apr-20	24,357	25,260
May-20	22,263	24,923
Jun-20	24,364	24,896
Jul-20	27,197	29,260
Aug-20	30,135	30,001
Sep-20	33,109	31,064
Oct-20	32,880	32,328
Nov-20	33,672	33,664
Dec-20	35,815	34,971
Jan-21	40,260	36,182
Feb-21	39,543	37,227
Mar-21	38,943	38,003
Apr-21	38,532	38,390
May-21	38,522	38,327
Jun-21	38,192	37,837
Jul-21	37,228	37,053
Aug-21	35,840	36,162
Sep-21	34,651	35,341
Oct-21	33,601	34,692
Nov-21	34,161	34,180
Dec-21	34,379	33,728
Jan-22	34,749	33,261
Feb-22	32,806	32,720
Mar-22	31,935	32,126
Apr-22	31,006	31,536
May-22	31,247	30,964
Jun-22	30,464	30,359
Jul-22	29,528	29,648
Aug-22	29,182	28,762
Sep-22	27,970	27,707
Oct-22	26,524	26,579
Nov-22	25,489	25,546
Dec-22	23,990	24,764
Jan-23	23,826	24,311
Feb-23	23,367	24,194
Mar-23	24,688	24,326
Apr-23	24,840	24,559
May-23	26,342	24,815
Jun-23	25,352	25,088
Jul-23	24,871	25,395
Aug-23	25,575	25,776
Sep-23	25,806	26,240
Oct-23	27,078	26,723
Nov-23	27,339	27,136

The value of total new investor loan commitments rose 1.9 per cent in November and was 18.0 per cent higher compared to a year ago.

“The growth in owner-occupier and investor lending seen through 2023 was driven by the three states with the largest populations. For both owner-occupiers and investors, New South Wales saw the most growth,” Dr Tan said.

The number of new owner-occupier first home buyer loan commitments rose 3.5 per cent in November 2023 and was 20.3 per cent higher compared to a year ago. The value of these commitments rose 2.8 per cent in the month and was 25.8 per cent higher compared to a year ago.

The number of refinanced owner-occupier loan commitments between lenders rose 4.2 per cent to 21,482 in the month. The record high of 28,132 was in July 2023. The November level was close to that seen in March 2022, just prior to the Reserve Bank commencing a series of cash rate rises.

Housing finance loan commitments by property purpose and state, seasonally adjusted – November 2023

		Aus *	NSW	Vic	Qld	SA	WA	Tas	NT	ACT
Owner-occupiers
	Value ($b) :	17.9	5.5	5.1	3.5	1.1	1.9	0.2	0.09	0.4
	Value change ($m):	83	-59	102	113	68	-56	-39	5	36
	Value % change ** :	0.5	-1.1	2.0	3.3	6.9	-2.9	-15.2 †	6.0	9.4
Owner-occupier first home buyers
	Number change:	354	-121	38	189	22	64	-75	-1	36
	Number % change ** :	3.5	-4.8	1.2	10.8	3.5	4.7	-34.1 †	-1.4	14.2 †
Investors
	Value change ($m):	180	-52	50	70	31	4	-11	2	33
	Value % change ** :	1.9	-1.4	2.2	3.7	6.1	0.5	-11.8 †	6.9	18.4 †

* 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 fell 5.6 per cent to $2.4 billion. This was driven by a fall of 5.4 per cent in lending for the purchase of road vehicles.

/ABS Public Release. View in full here.

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