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{{propApi.successMessage}} {{region}} Change locationOwner occupiers drive record year in housing finance
Owner occupiers drive record year in housing finance
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The ABS released the Lending to Households and Businesses data for December 2021 today. The data provides statistics on housing finance commitments.
“The total value of housing loans issued in 2021 reached almost $370 billion, up by 51 per cent on the previous year and the strongest year since records began in 2002,” added Mr Devitt.
“This was driven by owner occupiers, accounting for over $260 billion of the total in 2021, up by 43 per cent on the previous year.
“While loans to first home buyers have come down in recent months, this cohort remains much more active in the market than it did before the pandemic. First home buyers accounted for $74 billion worth of housing loans in 2021, up by 30.3 per cent on the previous year.
“The boom in renovations also looks set to continue with lending for renovations of $5.4 billion in 2021, almost double the level in 2020.
“While investor loans are another growing sector of the market, they remain a relatively small share of the market.
“Investors accounted for $106 billion worth of housing loans in 2021, up by 75.1 per cent on the previous year. This still represents 28 per cent of the total market, compared to more than 40 per cent in 2015.
“Australians are remaining very active in the housing market. The pandemic has forced people to spend a lot more time at home, resulting in demand for greater amenity. This is being found in both moving to a new home or renovating the home people already have," concluded Mr Devitt.
Major changes to Labour Hire Licensing Act
The Victorian Government has introduced the Labour Hire Legislation Amendment (Licensing) Bill 2025 (the Bill) into parliament. It amends the Labour Hire Licensing Act 2018 to address concerns about criminality in the construction sector.
Policy changes see spike in home building
“Sales of new homes for construction jumped 25.9 per cent in September following a series of policy changes, including a cut to the cash rate in August, removal of Lenders Mortgage Insurance and easing in planning restrictions,” stated HIA Chief Economist, Tim Reardon.
Victorian house building hits new low
“Victoria commenced construction on just 7,650 new detached houses in the June quarter 2025, the weakest quarter for the state in almost 12 years and a new low for this cycle,” stated HIA Executive Director Victoria, Keith Ryan.
Building Permit Levy changes you need to know about
The Victorian Government has introduced the State Taxation Further Amendment Bill 2025 into Parliament. This Bill includes a number of tax changes, including the much discussed congestion levy changes.