Each worth and quantity elevated
![Owner-occupier loans surge year-on-year in November](https://cdn-res.keymedia.com/cdn-cgi/image/w=840,h=504,f=auto/https://cdn-res.keymedia.com/cms/images/au/001/0440_638406758782813674.png)
The worth of latest owner-occupier mortgage commitments for dwellings skilled a sturdy 10.1% development by way of the 12 months to November, whereas the variety of these commitments additionally noticed a considerable 7.3% rise, recent ABS information confirmed.
“November noticed continued development within the worth and variety of new owner-occupier dwelling mortgage commitments, which rose 0.1% and 1% within the month respectively,” mentioned Mish Tan (pictured above), head of finance statistics at ABS.
Worth of latest borrower-accepted mortgage commitments (seasonally adjusted)
Worth of complete new investor mortgage commitments
November additionally noticed a constructive development within the worth of complete new investor mortgage commitments, with a notable 1.9% enhance for the month. Evaluating this information to the identical interval final 12 months, there was a big 18% surge.
“The expansion in owner-occupier and investor lending seen by way of 2023 was pushed by the three states with the most important populations,” Tan mentioned in a media launch. “For each owner-occupiers and buyers, New South Wales noticed probably the most development.”
First-home purchaser mortgage commitments and refinanced loans
The ABS information additionally revealed that the variety of new owner-occupier first house purchaser mortgage commitments rose by 3.5% in November, up 20.3% in comparison with the identical month final 12 months. The worth of those commitments additionally skilled development, rising by 2.8% for the month and 25.8% year-on-year.
The variety of refinanced owner-occupier mortgage commitments between lenders elevated by 4.2%, reaching 21,482 in November – barely under the document excessive of 28,132 in July and akin to the degrees noticed in March 2022, simply earlier than the Reserve Financial institution initiated a sequence of money price will increase.
Private finance
The ABS report additionally highlighted a 5.6% decline within the worth of latest mortgage commitments for complete fixed-term private finance, amounting to $2.4 billion. This lower was largely attributed to a 5.4% fall in lending for the acquisition of highway automobiles.
Get the most well liked and freshest mortgage information delivered proper into your inbox. Subscribe now to our FREE every day e-newsletter.
Sustain with the most recent information and occasions
Be part of our mailing checklist, it’s free!
![](https://www.brokernews.com.au/images/mail.png)