Home loan commitments reach new record levels: Australia

New loan commitments for housing rose 5.5 per cent in March 2021 (seasonally adjusted) to a new record high of $30.2 billion according to new figures released today by the Australian Bureau of Statistics (ABS).

Lending to investors accounted for more than half of the March rise in housing loan commitments. The value of new loan commitments for investor housing rose 12.7 per cent to $7.8 billion in March 2021 (seasonally adjusted), 54.3 per cent higher than in March 2020.

ABS head of Finance and Wealth, Katherine Keenan, said: “Investor lending has seen a sustained period of growth since the 20 year low seen in May 2020. The rise in March is the largest recorded since July 2003 and was driven by increased loan commitments to investors for existing dwellings.”

“The value of new loan commitments for owner occupier housing rose 3.3 per cent to $22.4 billion in March 2021, 55.6 per cent higher than March 2020. This rise was driven by an 8.8 per cent rise in the value of loan commitments for existing dwellings.”

The value of owner occupier loan commitments for the construction of new dwellings fell 14.5 per cent, the first fall since the HomeBuilder grant was introduced in June 2020.

The HomeBuilder grant was reduced from $25k to $15k effective from 1 January 2021.

Home loan commitments reach new record levels

Total (ex. refinancing)Owner occupier (ex. refinancing)Investor (ex. refinancing)
Mar-0311.5666.9274.638
Apr-0312.0177.2444.773
May-0312.3527.3634.989
Jun-0312.6227.6175.005
Jul-0313.5717.8075.764
Aug-0314.2557.9856.269
Sep-0314.2278.026.208
Oct-0314.4368.0486.388
Nov-0313.9927.8576.135
Dec-0313.2987.4595.839
Jan-0412.2846.9985.287
Feb-0412.3197.0725.247
Mar-0412.4537.1715.282
Apr-0412.4867.2415.246
May-0412.3487.2715.076
Jun-0411.8017.2564.545
Jul-0412.0167.324.696
Aug-0412.0537.3974.655
Sep-0412.2187.424.798
Oct-0411.9717.4294.542
Nov-0412.567.6824.878
Dec-0412.9147.9025.012
Jan-0513.2348.1075.127
Feb-0513.8268.4925.335
Mar-0513.5218.2345.287
Apr-0513.3098.1475.162
May-0512.687.9774.703
Jun-0512.6888.1554.534
Jul-0512.8268.0794.747
Aug-0512.878.2794.592
Sep-0513.5198.6354.884
Oct-0514.0338.7335.301
Nov-0514.0598.8575.202
Dec-0514.0588.9025.155
Jan-0614.2788.9655.313
Feb-0614.4259.1775.248
Mar-0614.5789.2995.28
Apr-0614.5099.2595.25
May-0615.4049.6425.762
Jun-0615.5449.5136.031
Jul-0615.2579.7695.487
Aug-0615.049.5195.521
Sep-0614.1659.1774.988
Oct-0614.3289.2925.036
Nov-0614.29.2284.972
Dec-0614.619.4295.181
Jan-0714.9289.5445.384
Feb-0715.3999.7665.633
Mar-0715.89710.0685.829
Apr-0716.36310.3236.041
May-0717.05210.6486.404
Jun-0718.30211.3556.947
Jul-0717.40710.7696.638
Aug-0717.39911.0196.381
Sep-0716.82910.5156.314
Oct-0716.81510.7396.077
Nov-0716.98510.6536.332
Dec-0716.55810.3716.187
Jan-0816.89710.8056.092
Feb-0815.6579.885.777
Mar-0814.5519.1385.413
Apr-0813.9048.7455.159
May-0812.9598.1684.791
Jun-0812.9638.24.764
Jul-0812.7858.1374.649
Aug-0812.6437.9794.664
Sep-0812.9768.2354.742
Oct-0813.3478.544.808
Nov-0813.0988.6054.492
Dec-0813.8869.3364.549
Jan-0914.89410.2334.66
Feb-0915.36810.7844.584
Mar-0916.70911.964.749
Apr-0917.0411.9575.083
May-0916.8511.8225.027
Jun-0917.20811.9615.248
Jul-0917.17111.7315.44
Aug-0917.35211.6445.708
Sep-0917.8812.1755.705
Oct-0917.61311.825.793
Nov-0917.07811.0915.987
Dec-0916.49810.6155.883
Jan-1015.95810.1245.834
Feb-1015.6729.7965.876
Mar-1015.529.5725.947
Apr-1015.2559.3585.897
May-1015.4259.4345.991
Jun-1015.1189.1315.987
Jul-1015.0489.2935.756
Aug-1014.6349.2335.401
Sep-1014.619.1385.472
Oct-1014.6649.1775.487
Nov-1014.7139.3235.39
Dec-1014.9999.4245.575
Jan-1114.1649.0195.145
Feb-1114.0678.8755.193
Mar-1113.6218.8254.796
Apr-1113.9989.0074.991
May-1114.2349.0795.155
Jun-1114.1339.0965.037
Jul-1114.0919.0385.052
Aug-1114.1599.0295.13
Sep-1113.9228.7825.139
Oct-1113.8658.8684.997
Nov-1114.0598.9815.078
Dec-1114.7269.4015.325
Jan-1214.7739.3965.376
Feb-1214.088.6795.401
Mar-1214.0938.7045.39
Apr-1214.3458.9255.42
May-1214.5049.1045.4
Jun-1214.7369.2495.487
Jul-1214.7699.2725.497
Aug-1214.8589.4265.432
Sep-1215.0979.4935.604
Oct-1214.8959.3795.516
Nov-1215.2139.4595.753
Dec-1215.3749.5325.842
Jan-1315.9079.8046.103
Feb-1316.159.8836.267
Mar-1316.87810.3446.534
Apr-1316.94110.3026.639
May-1317.20610.4066.8
Jun-1317.31110.4876.825
Jul-1317.44810.4966.952
Aug-1317.35810.2347.124
Sep-1318.17810.747.438
Oct-1318.6910.8937.798
Nov-1319.28211.2358.047
Dec-1319.00510.9488.057
Jan-1419.1611.1717.989
Feb-1419.40411.4587.946
Mar-1419.48811.3878.1
Apr-1419.60511.3258.28
May-1419.47111.2078.264
Jun-1419.61911.3798.24
Jul-1419.80911.2778.531
Aug-1419.60510.9548.651
Sep-1419.97911.0958.883
Oct-1420.54411.399.154
Nov-1420.15211.0449.108
Dec-1420.4611.3629.098
Jan-1520.74911.5739.176
Feb-1520.16711.3048.863
Mar-1521.26411.7329.532
Apr-1521.88911.83410.055
May-1520.23511.0839.152
Jun-1521.09511.9629.133
Jul-1521.06812.2588.81
Aug-1521.69913.2228.478
Sep-1520.91513.5317.384
Oct-1520.00313.1276.876
Nov-1519.73813.0666.672
Dec-1519.67612.9586.718
Jan-1619.15812.5526.606
Feb-1619.36212.6996.663
Mar-1619.1512.4896.661
Apr-1619.63212.7596.873
May-1619.89212.6947.198
Jun-1620.17312.6847.489
Jul-1619.98512.3847.601
Aug-1619.80312.2437.56
Sep-1620.72912.4258.304
Oct-1621.16612.5778.59
Nov-1621.60312.7638.84
Dec-1622.11413.1628.952
Jan-1722.37113.3059.066
Feb-1721.80713.1918.617
Mar-1722.64513.7768.869
Apr-1722.21413.5728.643
May-1722.29613.9548.342
Jun-1721.97413.8828.091
Jul-1722.0714.2127.858
Aug-1722.4614.5077.953
Sep-1722.03814.277.769
Oct-1721.55814.0147.545
Nov-1721.62414.1987.426
Dec-1721.29614.127.176
Jan-1821.30314.2967.007
Feb-1821.17114.1587.013
Mar-1820.54413.9566.588
Apr-1820.20813.8216.387
May-1820.55114.0986.454
Jun-1820.17113.9296.242
Jul-1820.17513.8966.279
Aug-1819.27413.2416.033
Sep-1818.75712.9215.836
Oct-1818.6512.9845.666
Nov-1817.83412.4615.372
Dec-1817.13811.9535.185
Jan-1916.90511.9035.002
Feb-1917.05312.14.953
Mar-1916.55111.7484.803
Apr-1916.55511.8254.73
May-1916.01611.3844.632
Jun-1916.59611.8944.702
Jul-1916.92512.0954.83
Aug-1917.85112.5955.256
Sep-1917.96312.9015.063
Oct-1918.40313.2555.147
Nov-1919.36213.9625.399
Dec-1919.82714.3545.472
Jan-2019.88114.4735.408
Feb-2019.21313.955.263
Mar-2019.46814.4055.063
Apr-2018.3313.4964.834
May-2016.09612.0294.066
Jun-2017.24912.8394.41
Jul-2018.82514.2484.578
Aug-2021.23116.2265.005
Sep-2022.55217.2775.276
Oct-2022.69517.4015.295
Nov-2023.96218.3485.614
Dec-2026.0119.9366.074
Jan-2128.73822.1026.636
Feb-2128.63921.7036.936
Mar-2130.22722.4137.814

The number of owner occupier first home buyer loan commitments fell 3.1 per cent to 15,623 in March 2021 (seasonally adjusted). Commitments remained at a historically elevated level and was 58.3 per cent higher than March 2020.

New South Wales, Victoria and Queensland accounted for most of the rise in investor housing loan commitments and there were rises in all states and territories except the Australian Capital Territory.

Owner occupier housing loan commitments rose in the largest states but generally fell in the smaller ones. An 8.2 per cent rise in New South Wales accounted for most of the national rise, while Victoria rose 1.6 per cent and Queensland rose 1.1 per cent.

The value of new loan commitments for fixed term personal finance rose 2.1 per cent in March 2021 (seasonally adjusted). Lending for road vehicles rose 4.5 per cent and was the main reason for the rise in fixed term personal finance.

/ABS Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here.