{{ propApi.closeIcon }}
Our industry
Our industry $vuetify.icons.faArrowRight
Economic research and forecasting Economics Housing outlook Tailored market research Economic reports and data Inspiring Australia's building professionals HOUSING The only place to get your industry news Media releases Member alerts Submissions See all
Business support
Business support $vuetify.icons.faArrowRight
Become an apprentice host Hire an apprentice Why host a HIA apprentice? Apprentice partner program Builder and manufacturer program Industry insurance Construction legal expenses insurance Construction works insurance Home warranty insurance Tradies and tool insurance Planning and safety services Building and planning services How can HIA Safety help you? Independent site inspections Solutions for your business Contracts Online HIA Tradepass HIA SafeScan HR Docs Trusted legal support Legal advice and guidance Professional services Industrial relations
Resources & advice
Resources & advice $vuetify.icons.faArrowRight
Building it right Building codes Australian standards Getting it right on site See all Building materials and products Concrete, bricks and walls Getting products approved Use the right products for the job See all Managing your business Dealing with contracts Handling disputes Managing your employees See all Managing your safety Falls from heights Safety rules Working with silica See all Building your business Growing your business Maintaining your business See all Other subjects COVID-19 Getting approval to build Sustainable homes
Careers & learning
Careers & learning $vuetify.icons.faArrowRight
A rewarding career Become an apprentice Apprenticeships on offer Hear what our apprentices say Advice for parents and guardians Study with us Find a course to suit you Qualification courses Get your builder's licence Learn with HIA
HIA community
HIA community $vuetify.icons.faArrowRight
Join HIA Sign me up How do I become a member? What's in it for me? Get involved Become an award judge Join a committee Partner with us Get to know us Our members Our people Our partners Mates rates What we do Mental health program Charitable Foundation GreenSmart
Awards & events
Awards & events $vuetify.icons.faArrowRight
Awards Awards program Professional Builder / Renovator GreenSmart Industry networking Events Australian Housing Awards National Conference Building and Renovation Home Show HOMEFEST
HIA products
HIA products $vuetify.icons.faArrowRight
Shop @ HIA Digital Australian Standards Contracts Online Shipping and delivery Purchasing terms & conditions Products Building codes and standards Economic reports Hard copy contracts Guides and manuals Safety and signage See all
About Contact Newsroom
$vuetify.icons.faMapMarker Set my location Use the field below to update your location
Change location
{{propApi.text}} {{region}} Change location
{{propApi.successMessage}} {{region}} Change location

$vuetify.icons.faPhone1300 650 620

Two record years of home lending

Media release

Two record years of home lending

Media release
“The value of housing loans issued across Australia reached a new record high in 2021/22, worth more than $380 billion,” stated HIA Economist, Tom Devitt.

The ABS released the Lending to Households and Businesses data for June 2022 today. The data provides statistics on housing finance commitments.

“Despite a slowing in recent months, lending for the year was still up by 21.2 per cent on the previous year – also a record high – and up by 81.1 per cent on pre-pandemic levels,” added Mr Devitt.

“Every segment of the housing market remains elevated compared to pre-pandemic levels.

“There were over $62 billion worth of loans to first home buyers in 2021/22, up by 69.1 per cent on 2018/19 levels. Loans to other owner-occupiers were up by 73.7 per cent and investor loans were double (+101.2 per cent).

“There was also $6.6 billion worth of lending for renovations in 2021/22, up by 165.0 per cent on three years earlier.

“The result is a record number of houses currently under construction, almost 80 per cent greater than pre-pandemic levels. There is also a large number of projects approved but not commenced, and sales have remained strong to the end of June. This will ensure that home building activity and demand for skilled workers will remain strong throughout 2023.

“The tightening of the cash rate in recent months will, however, bring this record-setting cycle to an end. 

“The adverse impact of the increase in the cash rate will compound the increase in the cost of building a new home and further slow building activity.

“The industry is reporting a slowing in the number of groups visiting display sites in recent weeks which could result in fewer new home sales in the second half of 2022.

“Given the large volume of work under construction and approved but not commenced, there will be a significant lag between the increase in the cash rate and an adverse impact on new home construction. 

“The long lead times in this current cycle will hide the impact of rate rises and risk the RBA over shooting with unnecessary rate increases,” concluded Mr Devitt.


Housing Loans, by Market Segment, $M

Source: ABS Housing Finance

For more information please contact:

Latest articles
View all news $vuetify.icons.faArrowRight
10 Aug
Security of Payment - Coverage

The Building and Construction Industry (Security of Payment) Act 2021 (WA) (SOP Act) applies to some construction contracts but excludes others. Before you make a claim under the SOP Act, it is important to confirm that your contract is covered.

08 Aug
The Residential Building Bill

The Tasmanian Government has released the Residential Building (Miscellaneous Consumer Protection Amendments) Bill 2022 for consultation. HIA has raised concerns with some elements.

05 Aug
Geraldton local claims HIA Apprentice of the Year

Geraldton’s own third year carpentry and joinery apprentice Callum Marquis from Connolly Creative Building Co. has been named 2022 HIA Stratco WA Peter Stannard Apprentice of the Year.

04 Aug
Security of Payment overview

Security of payment laws provide for the rapid adjudication of payment disputes in the building and construction industry.

Thomas Devitt