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$vuetify.icons.faPhone1300 650 620

Demand for housing and first homebuyer activity remain strong

Media release

Demand for housing and first homebuyer activity remain strong

Media release
The value of loans, excluding refinancing, issued for housing towards the end of 2021 was elevated as demand remains very strong.

The ABS released the Lending to Households and Businesses data for November 2021 today. The data provides statistics on housing finance commitments.

“The value of loans to owner occupiers increased by 7.6 per cent in the month of November. This leaves the value of loans to owner occupiers 46.0 per cent higher in the 12 months to November 2021 compared to the previous 12 months,” added Mr Ward.

“The number of loans to first home buyers increased in November and accounted for 34 per cent of owner occupier loans. This remains above the average of the past decade,” stated HIA Senior Economist, Nick Ward.

"The number of loans issued to owner-occupiers to construct a new dwelling was up 48.3 per cent in the 12 months to November 2021, compared to the previous 12 months,” added Mr Ward.

“The value of loans to investors were 69.5 per cent higher in the 12 months to November 2021, compared to the previous 12 months, as investors respond to the very tight rental markets around the country,” continued Mr Ward.

“The boom in renovations also looks set to continue with lending for renovations up by 91.4 per cent in the 12 months to November compared to the previous 12 months,” concluded Mr Ward.

For more information:

Nick Ward

Senior Economist

Tim Reardon

Chief Economist
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