Australia's New Housing Loan Commitments Drop 2.9% in April

The value of new loan commitments for housing fell 2.9 per cent to $23.3 billion in April 2023 (seasonally adjusted), after a 5.3 per cent rise the previous month, according to data released today by the Australian Bureau of Statistics (ABS).

New loan commitments, total housing excluding refinancing (seasonally adjusted and trend), values, Australia

	Total (seasadj) ($b)	Owner occupier (seasadj) ($b)	Investor (seasadj) ($b)	Total (trend) ($b)	Owner occupier (trend) ($b)	Investor (trend) ($b)
Apr-05	13.25	8.087	5.163	13.187	8.125	5.062
May-05	12.748	8.025	4.723	13.031	8.112	4.919
Jun-05	12.633	8.153	4.481	12.946	8.142	4.804
Jul-05	12.845	8.086	4.76	12.986	8.229	4.757
Aug-05	12.897	8.308	4.588	13.158	8.363	4.795
Sep-05	13.531	8.644	4.888	13.419	8.519	4.899
Oct-05	14.027	8.715	5.312	13.697	8.671	5.026
Nov-05	14.063	8.851	5.212	13.934	8.804	5.13
Dec-05	14.036	8.878	5.158	14.125	8.924	5.201
Jan-06	14.259	8.956	5.303	14.295	9.04	5.255
Feb-06	14.432	9.179	5.253	14.466	9.162	5.304
Mar-06	14.537	9.267	5.269	14.667	9.298	5.369
Apr-06	14.806	9.465	5.342	14.875	9.425	5.45
May-06	15.197	9.491	5.707	15.027	9.512	5.515
Jun-06	15.493	9.516	5.977	15.062	9.536	5.526
Jul-06	15.28	9.79	5.49	14.963	9.498	5.465
Aug-06	15.005	9.492	5.513	14.768	9.421	5.347
Sep-06	14.163	9.169	4.995	14.554	9.342	5.212
Oct-06	14.329	9.276	5.053	14.415	9.297	5.117
Nov-06	14.205	9.232	4.973	14.42	9.316	5.104
Dec-06	14.589	9.401	5.188	14.601	9.411	5.19
Jan-07	14.96	9.58	5.38	14.95	9.588	5.362
Feb-07	15.402	9.768	5.634	15.424	9.824	5.6
Mar-07	15.919	10.081	5.838	15.952	10.086	5.866
Apr-07	16.304	10.268	6.036	16.466	10.351	6.115
May-07	17.118	10.694	6.424	16.905	10.595	6.31
Jun-07	18.248	11.341	6.906	17.22	10.79	6.43
Jul-07	17.418	10.785	6.633	17.39	10.916	6.474
Aug-07	17.435	11.056	6.379	17.416	10.958	6.458
Sep-07	16.751	10.441	6.311	17.332	10.924	6.408
Oct-07	16.872	10.771	6.101	17.164	10.822	6.342
Nov-07	16.996	10.661	6.335	16.913	10.651	6.262
Dec-07	16.546	10.363	6.183	16.546	10.397	6.149
Jan-08	16.875	10.781	6.094	16.029	10.054	5.975
Feb-08	15.69	9.914	5.777	15.377	9.641	5.736
Mar-08	14.561	9.147	5.415	14.647	9.198	5.449
Apr-08	13.861	8.697	5.165	13.932	8.768	5.163
May-08	12.996	8.199	4.797	13.336	8.406	4.93
Jun-08	12.944	8.199	4.746	12.934	8.161	4.773
Jul-08	12.781	8.132	4.649	12.736	8.052	4.684
Aug-08	12.619	7.96	4.659	12.731	8.087	4.645
Sep-08	12.975	8.245	4.73	12.884	8.259	4.625
Oct-08	13.396	8.562	4.834	13.168	8.563	4.605
Nov-08	13.038	8.545	4.493	13.588	9.004	4.584
Dec-08	13.927	9.379	4.549	14.134	9.558	4.576
Jan-09	14.885	10.226	4.659	14.774	10.176	4.598
Feb-09	15.364	10.782	4.583	15.44	10.781	4.659
Mar-09	16.711	11.971	4.74	16.058	11.293	4.765
Apr-09	17.024	11.924	5.099	16.57	11.659	4.911
May-09	16.856	11.83	5.026	16.948	11.868	5.08
Jun-09	17.202	11.97	5.232	17.206	11.945	5.261
Jul-09	17.221	11.774	5.447	17.369	11.925	5.444
Aug-09	17.328	11.629	5.698	17.439	11.829	5.609
Sep-09	17.878	12.173	5.705	17.393	11.654	5.739
Oct-09	17.613	11.804	5.809	17.223	11.394	5.829
Nov-09	17.075	11.09	5.985	16.924	11.047	5.877
Dec-09	16.491	10.607	5.884	16.538	10.644	5.894
Jan-10	15.941	10.11	5.832	16.139	10.236	5.904
Feb-10	15.667	9.793	5.874	15.791	9.873	5.918
Mar-10	15.553	9.603	5.95	15.536	9.599	5.936
Apr-10	15.268	9.363	5.906	15.365	9.421	5.944
May-10	15.415	9.434	5.981	15.24	9.314	5.927
Jun-10	15.113	9.122	5.991	15.122	9.248	5.874
Jul-10	15.04	9.289	5.751	14.997	9.211	5.786
Aug-10	14.616	9.227	5.389	14.868	9.193	5.675
Sep-10	14.626	9.147	5.479	14.748	9.189	5.559
Oct-10	14.655	9.158	5.496	14.633	9.182	5.452
Nov-10	14.708	9.324	5.384	14.513	9.158	5.356
Dec-10	15.033	9.451	5.581	14.388	9.115	5.273
Jan-11	14.152	9.01	5.142	14.258	9.058	5.2
Feb-11	14.062	8.872	5.19	14.144	9.007	5.137
Mar-11	13.626	8.828	4.798	14.063	8.973	5.09
Apr-11	13.994	8.998	4.996	14.03	8.966	5.064
May-11	14.234	9.087	5.147	14.037	8.977	5.06
Jun-11	14.136	9.095	5.04	14.053	8.989	5.063
Jul-11	14.082	9.032	5.049	14.057	8.989	5.068
Aug-11	14.166	9.036	5.129	14.049	8.973	5.076
Sep-11	13.94	8.802	5.138	14.054	8.956	5.097
Oct-11	13.86	8.859	5.001	14.082	8.949	5.134
Nov-11	14.04	8.957	5.083	14.135	8.946	5.189
Dec-11	14.729	9.405	5.324	14.196	8.941	5.256
Jan-12	14.77	9.397	5.374	14.252	8.934	5.318
Feb-12	14.079	8.678	5.401	14.302	8.929	5.372
Mar-12	14.092	8.704	5.389	14.347	8.939	5.408
Apr-12	14.346	8.925	5.421	14.41	8.983	5.427
May-12	14.505	9.109	5.396	14.502	9.068	5.435
Jun-12	14.735	9.248	5.487	14.622	9.177	5.445
Jul-12	14.776	9.279	5.496	14.743	9.28	5.462
Aug-12	14.87	9.438	5.432	14.848	9.358	5.49
Sep-12	15.099	9.495	5.605	14.94	9.404	5.537
Oct-12	14.906	9.384	5.522	15.057	9.442	5.615
Nov-12	15.19	9.436	5.754	15.239	9.505	5.734
Dec-12	15.37	9.528	5.842	15.507	9.613	5.894
Jan-13	15.893	9.794	6.099	15.851	9.769	6.083
Feb-13	16.139	9.877	6.262	16.233	9.954	6.279
Mar-13	16.885	10.351	6.533	16.598	10.14	6.458
Apr-13	16.933	10.298	6.636	16.906	10.297	6.609
May-13	17.231	10.431	6.8	17.147	10.413	6.735
Jun-13	17.296	10.474	6.822	17.37	10.503	6.867
Jul-13	17.477	10.517	6.96	17.619	10.586	7.032
Aug-13	17.354	10.23	7.124	17.918	10.673	7.245
Sep-13	18.204	10.76	7.443	18.256	10.773	7.482
Oct-13	18.693	10.894	7.8	18.596	10.891	7.705
Nov-13	19.236	11.186	8.05	18.895	11.016	7.878
Dec-13	19.002	10.951	8.052	19.126	11.135	7.991
Jan-14	19.184	11.191	7.994	19.279	11.231	8.049
Feb-14	19.374	11.447	7.927	19.38	11.303	8.077
Mar-14	19.479	11.374	8.104	19.452	11.345	8.106
Apr-14	19.584	11.316	8.268	19.508	11.348	8.16
May-14	19.502	11.228	8.275	19.566	11.315	8.251
Jun-14	19.629	11.387	8.241	19.64	11.26	8.38
Jul-14	19.82	11.284	8.535	19.737	11.203	8.535
Aug-14	19.617	10.965	8.652	19.875	11.176	8.7
Sep-14	20.008	11.115	8.892	20.037	11.182	8.856
Oct-14	20.592	11.425	9.166	20.209	11.216	8.993
Nov-14	20.043	10.951	9.093	20.385	11.277	9.108
Dec-14	20.481	11.38	9.101	20.556	11.354	9.201
Jan-15	20.709	11.537	9.172	20.714	11.433	9.281
Feb-15	20.115	11.287	8.828	20.854	11.501	9.354
Mar-15	21.256	11.732	9.525	20.979	11.577	9.402
Apr-15	21.812	11.785	10.027	21.081	11.694	9.388
May-15	20.327	11.142	9.185	21.138	11.874	9.264
Jun-15	21.128	11.988	9.141	21.118	12.117	9.001
Jul-15	21.178	12.333	8.845	21.013	12.405	8.609
Aug-15	21.678	13.199	8.479	20.814	12.678	8.136
Sep-15	20.956	13.562	7.394	20.534	12.886	7.648
Oct-15	20.018	13.14	6.879	20.2	12.991	7.209
Nov-15	19.642	12.985	6.656	19.844	12.976	6.868
Dec-15	19.594	12.896	6.698	19.537	12.882	6.655
Jan-16	19.12	12.514	6.607	19.35	12.773	6.577
Feb-16	19.36	12.736	6.624	19.308	12.698	6.61
Mar-16	19.114	12.456	6.658	19.393	12.664	6.729
Apr-16	19.583	12.712	6.871	19.561	12.645	6.916
May-16	20.009	12.791	7.218	19.771	12.618	7.153
Jun-16	20.203	12.695	7.508	19.992	12.565	7.427
Jul-16	20.068	12.422	7.646	20.226	12.502	7.724
Aug-16	19.882	12.311	7.571	20.489	12.464	8.025
Sep-16	20.782	12.458	8.324	20.797	12.485	8.312
Oct-16	21.175	12.595	8.58	21.145	12.579	8.565
Nov-16	21.517	12.699	8.819	21.526	12.752	8.774
Dec-16	21.98	13.054	8.926	21.888	12.972	8.916
Jan-17	22.23	13.231	8.999	22.174	13.199	8.974
Feb-17	21.733	13.195	8.539	22.342	13.405	8.937
Mar-17	22.588	13.709	8.878	22.402	13.588	8.813
Apr-17	22.644	13.874	8.77	22.388	13.759	8.629
May-17	22.102	13.802	8.299	22.332	13.915	8.418
Jun-17	22.09	13.939	8.151	22.263	14.053	8.209
Jul-17	22.112	14.232	7.88	22.183	14.16	8.023
Aug-17	22.395	14.471	7.924	22.075	14.218	7.858
Sep-17	22.098	14.284	7.813	21.937	14.23	7.706
Oct-17	21.653	14.121	7.532	21.763	14.209	7.554
Nov-17	21.529	14.132	7.397	21.53	14.15	7.38
Dec-17	21.145	13.978	7.166	21.265	14.078	7.187
Jan-18	21.212	14.266	6.946	21.017	14.025	6.992
Feb-18	21.124	14.192	6.931	20.82	14.005	6.815
Mar-18	20.418	13.852	6.566	20.675	14.006	6.669
Apr-18	20.149	13.751	6.398	20.545	13.997	6.548
May-18	20.76	14.25	6.51	20.39	13.949	6.442
Jun-18	20.265	13.953	6.312	20.173	13.836	6.337
Jul-18	20.227	13.921	6.306	19.861	13.648	6.213
Aug-18	19.386	13.337	6.049	19.433	13.38	6.053
Sep-18	18.668	12.826	5.842	18.896	13.044	5.852
Oct-18	18.905	13.218	5.687	18.302	12.682	5.62
Nov-18	17.838	12.47	5.368	17.739	12.354	5.385
Dec-18	16.927	11.79	5.138	17.256	12.085	5.171
Jan-19	16.69	11.77	4.92	16.867	11.876	4.991
Feb-19	17.037	12.15	4.887	16.587	11.73	4.857
Mar-19	16.406	11.632	4.774	16.422	11.653	4.769
Apr-19	16.487	11.738	4.75	16.386	11.655	4.731
May-19	16.305	11.583	4.722	16.478	11.742	4.736
Jun-19	16.517	11.793	4.724	16.703	11.924	4.78
Jul-19	17.02	12.152	4.869	17.07	12.209	4.862
Aug-19	17.837	12.603	5.234	17.571	12.595	4.977
Sep-19	18.054	12.957	5.097	18.155	13.045	5.11
Oct-19	18.647	13.476	5.17	18.704	13.475	5.23
Nov-19	19.377	13.987	5.39	19.107	13.805	5.303
Dec-19	19.598	14.164	5.434	19.289	13.98	5.309
Jan-20	19.756	14.421	5.336	19.248	13.995	5.254
Feb-20	19.16	13.975	5.184	19.057	13.895	5.162
Mar-20	19.159	14.209	4.95	18.857	13.776	5.081
Apr-20	18.2	13.326	4.873	18.82	13.762	5.058
May-20	16.245	12.117	4.128	18.276	13.949	4.327
Jun-20	17.261	12.831	4.431	18.813	14.357	4.457
Jul-20	18.974	14.326	4.649	19.857	15.218	4.639
Aug-20	21.246	16.275	4.97	21.085	16.23	4.855
Sep-20	22.646	17.285	5.361	22.112	17.021	5.092
Oct-20	23.12	17.78	5.34	23.235	17.876	5.359
Nov-20	24.075	18.495	5.58	24.376	18.7	5.676
Dec-20	25.663	19.604	6.059	25.588	19.536	6.053
Jan-21	28.297	21.816	6.481	26.857	20.371	6.486
Feb-21	28.706	21.826	6.881	28.131	21.168	6.963
Mar-21	29.678	22.068	7.61	29.3	21.843	7.457
Apr-21	30.506	22.585	7.921	30.391	22.448	7.944
May-21	31.737	22.879	8.857	31.045	22.641	8.405
Jun-21	31.195	22.311	8.884	31.416	22.58	8.836
Jul-21	31.794	22.527	9.267	31.586	22.347	9.239
Aug-21	31.286	21.684	9.603	31.684	22.06	9.624
Sep-21	30.939	20.958	9.981	31.835	21.831	10.004
Oct-21	30.731	20.454	10.277	32.106	21.727	10.379
Nov-21	32.51	21.763	10.748	32.438	21.713	10.725
Dec-21	32.996	22.045	10.951	32.729	21.714	11.015
Jan-22	33.953	22.58	11.373	32.88	21.663	11.218
Feb-22	32.868	21.512	11.356	32.805	21.505	11.299
Mar-22	32.453	21.25	11.203	32.458	21.223	11.235
Apr-22	31.351	20.353	10.998	31.849	20.833	11.016
May-22	31.467	20.613	10.854	31.009	20.347	10.662
Jun-22	30.28	19.992	10.288	30	19.78	10.219
Jul-22	28.243	18.914	9.329	28.87	19.13	9.74
Aug-22	27.513	18.443	9.069	27.673	18.404	9.269
Sep-22	26.321	17.557	8.764	26.47	17.638	8.833
Oct-22	25.527	16.976	8.551	25.346	16.887	8.459
Nov-22	24.441	16.189	8.252	24.396	16.229	8.167
Dec-22	23.442	15.546	7.896	23.685	15.725	7.959
Jan-23	22.998	15.274	7.725	23.216	15.387	7.829
Feb-23	22.736	15.071	7.665	22.978	15.21	7.768
Mar-23	23.946	16.021	7.925	22.932	15.169	7.763
Apr-23	23.257	15.404	7.853	22.999	15.205	7.794

Mish Tan, ABS head of finance statistics, said: "The value of new owner-occupier loan commitments fell 3.8 per cent to $15.4 billion in April, while the value of new investor loan commitments fell 0.9 per cent to $7.9 billion."

The value of new owner-occupier dwelling loan commitments (excluding land and alterations, additions and repairs) fell 3.9 per cent to $14.3 billion. Meanwhile, the number of these commitments fell only 0.1 per cent.

New owner-occupier dwelling commitments, value vs number, Australia

	Number of new owner-occupier dwelling commitments	Value of new owner-occupier dwelling commitments ($b)
Apr-13	26,783	9.4446
May-13	27,424	9.5792
Jun-13	27,499	9.637
Jul-13	28,165	9.7006
Aug-13	26,950	9.3762
Sep-13	27,894	9.8917
Oct-13	28,172	10.0208
Nov-13	28,648	10.2774
Dec-13	27,541	10.0459
Jan-14	28,057	10.2678
Feb-14	28,287	10.4897
Mar-14	28,002	10.4579
Apr-14	27,968	10.434
May-14	28,047	10.3554
Jun-14	28,072	10.4985
Jul-14	27,797	10.3884
Aug-14	27,618	10.1071
Sep-14	27,679	10.2508
Oct-14	28,022	10.4998
Nov-14	26,768	10.0828
Dec-14	28,269	10.5866
Jan-15	28,366	10.7163
Feb-15	28,078	10.4884
Mar-15	28,558	10.9429
Apr-15	28,609	10.9769
May-15	26,381	10.361
Jun-15	28,255	11.1458
Jul-15	28,381	11.4697
Aug-15	29,480	12.3087
Sep-15	29,835	12.6974
Oct-15	28,990	12.2903
Nov-15	28,625	12.1298
Dec-15	29,021	12.0254
Jan-16	28,351	11.7171
Feb-16	28,866	11.8346
Mar-16	28,519	11.5206
Apr-16	29,016	11.7671
May-16	28,924	11.867
Jun-16	28,943	11.798
Jul-16	27,905	11.5013
Aug-16	27,640	11.4111
Sep-16	27,731	11.54
Oct-16	27,893	11.6981
Nov-16	28,173	11.7803
Dec-16	29,020	12.0782
Jan-17	29,642	12.2745
Feb-17	29,354	12.1997
Mar-17	29,879	12.7053
Apr-17	30,283	12.8082
May-17	29,410	12.6841
Jun-17	30,381	12.8663
Jul-17	31,371	13.1859
Aug-17	32,222	13.3871
Sep-17	31,065	13.1544
Oct-17	30,705	12.9991
Nov-17	30,418	13.0438
Dec-17	29,703	12.9074
Jan-18	29,604	13.1315
Feb-18	29,310	13.1724
Mar-18	28,695	12.8372
Apr-18	28,291	12.7404
May-18	28,916	13.2087
Jun-18	28,783	12.8855
Jul-18	28,839	12.8928
Aug-18	28,073	12.3347
Sep-18	27,597	11.8939
Oct-18	28,397	12.2928
Nov-18	27,407	11.5606
Dec-18	25,316	10.8136
Jan-19	25,326	10.8256
Feb-19	25,611	11.3454
Mar-19	24,705	10.9073
Apr-19	24,487	10.923
May-19	24,357	10.7735
Jun-19	24,746	10.9524
Jul-19	25,339	11.3118
Aug-19	25,629	11.715
Sep-19	25,859	12.0537
Oct-19	26,217	12.5147
Nov-19	26,962	13.041
Dec-19	26,808	13.2248
Jan-20	26,900	13.4579
Feb-20	26,227	12.9995
Mar-20	25,710	13.2468
Apr-20	24,344	12.3679
May-20	22,320	11.2455
Jun-20	24,418	11.8405
Jul-20	27,172	13.0338
Aug-20	29,973	14.7162
Sep-20	32,904	15.676
Oct-20	32,971	16.1302
Nov-20	33,707	16.8784
Dec-20	35,814	17.9327
Jan-21	40,259	20.1819
Feb-21	39,604	20.1898
Mar-21	38,953	20.5122
Apr-21	38,789	21.0163
May-21	38,420	21.3605
Jun-21	38,289	20.9252
Jul-21	37,055	21.0891
Aug-21	35,810	20.2922
Sep-21	34,326	19.5722
Oct-21	33,690	19.0825
Nov-21	34,274	20.2407
Dec-21	34,470	20.6072
Jan-22	34,524	21.2016
Feb-22	32,855	20.0924
Mar-22	32,071	19.8384
Apr-22	31,174	19.007
May-22	31,313	19.1819
Jun-22	30,554	18.5862
Jul-22	29,335	17.5674
Aug-22	29,019	17.1278
Sep-22	27,782	16.3335
Oct-22	26,446	15.7321
Nov-22	25,607	15.0444
Dec-22	24,005	14.46
Jan-23	23,825	14.2235
Feb-23	23,388	14.0356
Mar-23	24,871	14.8948
Apr-23	24,847	14.3192

Compared to pre-COVID 19 pandemic levels in February 2020, the value of new owner-occupier dwelling loan commitments was 10.2 per cent higher in April 2023, while the number of these commitments was 5.3 per cent lower. The average value of these loans has risen by 21.8 per cent (in original terms) over this period.

The number of new owner-occupier first home buyer loan commitments fell 0.9 per cent, after a rise of 16.5 per cent in March. This was 16.2 per cent lower compared to a year ago.

The value of new owner-occupier housing loan refinances between lenders fell 8.6 per cent but remained high at $13.0 billion, after reaching a record high of $14.2 billion in March. Borrowers continued to switch lenders amid a high interest rate environment.

		Aus *	NSW	Vic	Qld	SA	WA	Tas	NT	ACT
Owner-occupiers
	Value ($b) :	15.4	4.7	4.3	3.1	1.0	1.6	0.2	0.1	0.4
	Value change ($m):	-617	-254	-83	-56	-0.1	-16	-0.2	-20	-21
	Value % change ** :	-3.8	-5.1	-1.9	-1.8	-0.01	-1.0	-0.1	-20.6 †	-5.3
Owner-occupier first home buyers
	Number change:	-75	-24	-49	-68	19	63	-2	-3	-14
	Number % change ** :	-0.9	-1.2	-2.1	-3.9	3.7	5.4	-1.4	-4.3	-6.9
Investors
	Value change ($m):	-72	-160	-144	5	13	20	-3	-4	-54
	Value % change ** :	-0.9	-5.1	-7.1	0.3	3.4	3.1	-3.8	-13.3 †	-29.0 †

* 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 total new loan commitments for fixed term personal finance rose 1.5 per cent. Lending for the purchase of road vehicles rose slightly by 0.5 per cent.

/ABS Public Release. This material from the originating organization/author(s) might be of the point-in-time nature, and edited for clarity, style and length. Mirage.News does not take institutional positions or sides, and all views, positions, and conclusions expressed herein are solely those of the author(s).View in full here.

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