Home loan commitments rebounded in November: Australia

The value of new loan commitments for housing rose 6.3 per cent to $31.4 billion in November 2021 (seasonally adjusted) following three months of falls, according to statistics released today by the Australian Bureau of Statistics (ABS).

ABS head of Finance and Wealth, Katherine Keenan, said: “The value of new loan commitments for owner-occupier housing rebounded 7.6 per cent in November. The rise was the first since May 2021 and the largest since January 2021.”

Home loan commitments rebounded in November

Total (ex. refinancing) ($b)Owner occupier (ex. refinancing) ($b)Investor (ex. refinancing) ($b)
Nov-0313.9927.8586.135
Dec-0313.2987.4595.839
Jan-0412.2856.9985.287
Feb-0412.3187.0715.247
Mar-0412.4537.1715.282
Apr-0412.4867.245.246
May-0412.3477.2715.077
Jun-0411.87.2564.544
Jul-0412.0177.324.696
Aug-0412.0537.3984.655
Sep-0412.2187.424.798
Oct-0411.9717.4294.542
Nov-0412.5617.6824.878
Dec-0412.9147.9025.012
Jan-0513.2348.1075.128
Feb-0513.8268.4915.335
Mar-0513.528.2345.287
Apr-0513.3098.1475.162
May-0512.687.9774.703
Jun-0512.6878.1544.533
Jul-0512.8278.084.747
Aug-0512.878.2794.592
Sep-0513.5198.6354.884
Oct-0514.0348.7325.301
Nov-0514.068.8585.202
Dec-0514.0588.9035.155
Jan-0614.2798.9665.313
Feb-0614.4259.1765.248
Mar-0614.5789.2985.28
Apr-0614.5099.2595.25
May-0615.4049.6425.763
Jun-0615.5439.5136.03
Jul-0615.2569.7695.487
Aug-0615.049.5185.522
Sep-0614.1669.1784.988
Oct-0614.3299.2935.037
Nov-0614.1999.2274.972
Dec-0614.619.435.181
Jan-0714.9279.5445.384
Feb-0715.3999.7665.633
Mar-0715.89710.0695.829
Apr-0716.36310.3226.041
May-0717.05210.6476.404
Jun-0718.30211.3566.947
Jul-0717.40710.776.637
Aug-0717.39911.0186.381
Sep-0716.82910.5166.313
Oct-0716.81610.7386.077
Nov-0716.98610.6546.332
Dec-0716.55710.3716.186
Jan-0816.89910.8056.094
Feb-0815.6569.885.776
Mar-0814.559.1385.412
Apr-0813.9058.7445.16
May-0812.968.1684.792
Jun-0812.9618.1994.762
Jul-0812.7868.1364.65
Aug-0812.6437.9794.664
Sep-0812.9788.2374.741
Oct-0813.3478.5394.808
Nov-0813.0988.6064.492
Dec-0813.8869.3374.549
Jan-0914.89410.2334.661
Feb-0915.36610.7824.584
Mar-0916.7111.9614.749
Apr-0917.04111.9555.085
May-0916.84911.8225.027
Jun-0917.20811.965.247
Jul-0917.16911.7295.44
Aug-0917.35111.6445.706
Sep-0917.88612.1815.706
Oct-0917.61211.8195.793
Nov-0917.07511.095.985
Dec-0916.50210.6175.885
Jan-1015.95510.1245.831
Feb-1015.679.7945.876
Mar-1015.5199.5725.948
Apr-1015.2589.365.898
May-1015.4239.4335.99
Jun-1015.1199.135.989
Jul-1015.0489.2925.756
Aug-1014.6369.2345.402
Sep-1014.6179.1435.474
Oct-1014.6589.1765.482
Nov-1014.7119.3215.39
Dec-10159.4265.573
Jan-1114.1599.0155.144
Feb-1114.0648.8725.192
Mar-1113.6288.8284.8
Apr-1113.9949.0044.99
May-1114.2389.0815.157
Jun-1114.1379.0985.039
Jul-1114.0859.0355.05
Aug-1114.1579.0265.131
Sep-1113.9318.7935.138
Oct-1113.8588.8644.993
Nov-1114.0528.9735.079
Dec-1114.739.4065.324
Jan-1214.7749.3975.376
Feb-1214.0688.6675.402
Mar-1214.1018.7115.39
Apr-1214.3498.9265.423
May-1214.519.1065.404
Jun-1214.7369.2525.484
Jul-1214.7719.2725.499
Aug-1214.8599.4275.432
Sep-1215.0959.4935.602
Oct-1214.8859.3715.514
Nov-1215.2139.4635.75
Dec-1215.3749.5315.843
Jan-1315.9029.7996.103
Feb-1316.1479.886.267
Mar-1316.88110.3496.532
Apr-1316.94710.3056.642
May-1317.2110.4086.802
Jun-1317.32210.4966.826
Jul-1317.4410.4836.957
Aug-1317.36610.247.126
Sep-1318.17210.7377.436
Oct-1318.68910.8957.794
Nov-1319.2611.2278.034
Dec-1319.00810.9538.055
Jan-1419.14711.1617.986
Feb-1419.40311.4577.946
Mar-1419.49511.3878.108
Apr-1419.611.3218.28
May-1419.50111.2288.273
Jun-1419.64311.3928.251
Jul-1419.81411.2718.544
Aug-1419.60710.9558.652
Sep-1419.95911.0878.872
Oct-1420.53911.3949.146
Nov-1420.12111.0339.088
Dec-1420.43511.3489.087
Jan-1520.7311.5629.168
Feb-1520.16611.3058.861
Mar-1521.24811.7229.526
Apr-1521.91811.83910.078
May-1520.28511.1229.163
Jun-1521.12811.9789.151
Jul-1521.12112.2788.842
Aug-1521.68813.1978.49
Sep-1520.8813.5097.371
Oct-1519.99913.1346.865
Nov-1519.68113.0376.644
Dec-1519.63212.9376.695
Jan-1619.13212.5486.584
Feb-1619.34612.6886.658
Mar-1619.11812.4576.661
Apr-1619.71312.8076.906
May-1619.97512.7547.221
Jun-1620.23212.7077.525
Jul-1620.06612.4217.645
Aug-1619.79212.2167.576
Sep-1620.73612.4398.296
Oct-1621.07812.5328.546
Nov-1621.49812.7188.781
Dec-1622.05513.1598.896
Jan-1722.22913.2348.995
Feb-1721.77213.198.581
Mar-1722.67513.7778.898
Apr-1722.25713.5728.685
May-1722.54814.1038.446
Jun-1722.18614.0068.181
Jul-1722.08614.1767.91
Aug-1722.37114.4237.948
Sep-1722.02714.2687.759
Oct-1721.43513.9627.473
Nov-1721.42414.1017.323
Dec-1721.2814.177.11
Jan-1821.13514.1836.952
Feb-1821.13214.1636.968
Mar-1820.44213.8696.573
Apr-1820.32113.8636.459
May-1820.92214.3546.568
Jun-1820.4514.0756.375
Jul-1820.30513.9316.375
Aug-1819.23413.1946.039
Sep-1818.59112.8085.782
Oct-1818.48512.8885.597
Nov-1817.71612.4545.262
Dec-181711.9155.085
Jan-1916.71811.7914.928
Feb-1917.02612.1154.911
Mar-1916.48811.6584.83
Apr-1916.68711.8764.812
May-1916.51111.7244.788
Jun-1916.77911.9674.812
Jul-1917.07112.1244.947
Aug-1917.68812.4865.202
Sep-1917.79512.7875.008
Oct-1918.14413.1165.028
Nov-1919.16713.9125.255
Dec-1919.77814.4115.367
Jan-2019.75714.3985.359
Feb-2019.12413.925.203
Mar-2019.26914.25.069
Apr-2018.46913.5274.942
May-2016.66312.4384.225
Jun-2017.54712.9984.548
Jul-2019.09514.3884.708
Aug-2020.86915.934.939
Sep-2022.37517.1235.251
Oct-2022.36317.2315.132
Nov-2023.60618.2035.403
Dec-2025.93519.9915.945
Jan-2128.47721.9376.541
Feb-2128.65921.7596.9
Mar-2129.95122.0617.89
Apr-2131.05623.0028.054
May-2132.56523.4379.127
Jun-2132.04922.869.189
Jul-2132.12422.7719.352
Aug-2130.75621.2649.492
Sep-2130.3120.6899.621
Oct-2129.56719.8379.731
Nov-2131.43721.33710.1

“Owner-occupier loan commitment increases were strongest in New South Wales, rising 9.6 per cent, and Victoria, rising 9.7 per cent, corresponding with restrictions easing in those states in October and November.”

At the national level, the average loan size for owner-occupier dwellings (which includes construction and the purchase of new and existing dwellings) rose to an all-time high of $596,000. Average loan sizes reached new highs in all states and territories except Western Australia.

“Activity in the investor market was also strong. The value of new loan commitments to investors rose 3.8 per cent reaching a new all-time high of $10.1 billion,” Ms Keenan said.

“Investor lending has grown for the past 13 months, and accounted for around one third of the value of new housing loan commitments in November 2021. The previous investor lending peak in April 2015 accounted for 46 per cent of new housing loan commitments.”

Increases in investor loan commitments were strongest in New South Wales (up 7.8 per cent), Queensland (up 5.0 per cent) and Victoria (up 3.6 per cent). All states rose, while both territories fell.

The number of new loan commitments to owner-occupier first home buyers rose 1.9 per cent in November 2021 (seasonally adjusted), breaking the decline since January 2021. The number of these commitments was 17.4 per cent lower compared to a year ago.

Ms Keenan said: “Victoria had the strongest rise of 12.3 per cent in the number of owner-occupier first home buyer loan commitments. The number of these commitments was 6.7 per cent lower than a year ago, after falling from record highs seen earlier in the year.”

Increases were also seen in New South Wales, rising 2.2 per cent, and Western Australia, rising 1.3 per cent. Queensland fell 1.5 per cent and South Australia fell 4.6 per cent.

The value of new loan commitments for fixed term personal finance rose 4.5 per cent in November 2021 (seasonally adjusted), driven by a 4.8 per cent rise in lending for the purchase of road vehicles.

/ABS Public Release. This material from the originating organization/author(s) may be of a point-in-time nature, edited for clarity, style and length. The views and opinions expressed are those of the author(s).View in full here.