Home loan commitments rise to another new high: Australia

New loan commitments for housing rose 3.7 per cent in April 2021 (seasonally adjusted) to a record high of $31.0 billion 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 reached another all-time high in April 2021, up 4.3 per cent to $23.0 billion. New loan commitments for investors rose 2.1 per cent to $8.1 billion, which was the highest level since mid-2017.”

“The rise in owner occupier lending was driven by increased loan commitments for existing dwellings, which rose 9.2 per cent. Loan commitments to owner occupiers for the construction of new dwellings fell by 11.4 per cent, following a fall of 14.8 per cent in March. These were the first monthly declines since the Homebuilder grant was introduced in June 2020. However, the value of construction commitments remained at a high level.”

The HomeBuilder grant was reduced from $25k to $15k effective from 1 January 2021 and was closed to new applications from 14 April 2021.

Home loan commitments rise to another new high

Total (ex. refinancing)Owner occupier (ex. refinancing)Investor (ex. refinancing)
Apr-0312.0177.2444.773
May-0312.3527.3624.989
Jun-0312.627.6175.003
Jul-0313.5717.8075.764
Aug-0314.2557.9866.269
Sep-0314.2288.026.208
Oct-0314.4368.0476.388
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-0412.567.6834.878
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-0514.0598.8575.202
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-1015.6699.7945.876
Mar-1015.5199.5725.948
Apr-1015.2589.365.898
May-1015.4239.4335.99
Jun-1015.1199.135.989
Jul-1015.0489.2915.756
Aug-1014.6369.2345.402
Sep-1014.6179.1435.474
Oct-1014.6589.1765.482
Nov-1014.7119.3215.39
Dec-1014.9999.4265.573
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-1319.26111.2278.034
Dec-1319.00810.9538.055
Jan-1419.14711.1617.986
Feb-1419.40311.4577.946
Mar-1419.49411.3878.108
Apr-1419.60111.3218.28
May-1419.50111.2288.273
Jun-1419.64311.3928.251
Jul-1419.81411.2718.544
Aug-1419.60710.9558.652
Sep-1419.95911.0868.872
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-1521.91811.83910.079
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-1619.79312.2167.576
Sep-1620.73612.4398.296
Oct-1621.07812.5328.546
Nov-1621.49812.7178.781
Dec-1622.05513.1598.896
Jan-1722.22913.2348.995
Feb-1721.77213.1918.581
Mar-1722.67513.7778.898
Apr-1722.25713.5728.685
May-1722.54814.1038.445
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-1721.2814.177.111
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-2128.65921.7596.901
Mar-2129.95122.0617.89
Apr-2131.05623.0028.054

The number of owner occupier first home buyer loan commitments fell 1.9 per cent to 15,171 in April 2021. While this was the third consecutive month of decline, the number of commitments remained at their highest level since July 2009.

An 8.6 per cent rise in New South Wales and an 8.4 per cent rise in Victoria accounted for the majority of the rise in owner occupier housing loan commitments across Australia.

Commitments in Western Australia fell 7.9 per cent, after a fall of 5.1 per cent in March. The Building Bonus Grant which was offered in WA in addition to the federal Homebuilder grant ceased after 31 December 2021.

The value of new loan commitments for fixed term personal finance rose 4.8 per cent in April 2021 (seasonally adjusted). This was driven by lending for personal investment which rose 25.2 per cent and lending for road vehicles which rose 3.6 per cent.

/ABS Public Release. This material comes from the originating organization/author(s)and 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.