Housing finance dipped in December, as the latest ABS figures show a marked drop in new housing loans.
After much speculation, new ABS Lending to Households and Business figures have confirmed the total value of new lending to households dropped 19.8 per cent from December 2017 to December 2018, in seasonally adjusted terms and excluding refinancing.
|Value of new loans||% change month on month||% change year on year|
Sally Tindall, research director at RateCity.com.au said it was interesting that owner-occupiers took the biggest hit this month.
“New lending to owner-occupiers fell the most this month, with a 6.4 per cent drop, compared to investors who fell just 4.6 per cent.
“Looking at the bigger picture, however, investors are still leading the retreat from the market, with a 27.8 per cent drop in new loans compared to the year before.