First homebuyer numbers leapt to the highest level since 2009 in July, with increased volumes across all states and territories.
The snap-back was driven largely by homebuyers New South Wales and Queensland, as well as increases elsewhere.
The average loan size has increased by 15 per cent over the past year (and 18 per cent for the 3mMA) reflective of the increased serviceability for many borrowers as mortgage rates fall.
The monthly and year-on-year numbers reflect some huge gains, but before people get too carried away it's worth remembering that the figures are still coming from a low base.
Lending is quickly back to the levels seen pre-COVID, but some context is important here, given that the rebound is following on from the credit squeeze and banking Royal Commission.
Investor loans did increase in July, but the rebound has been much more subdued to date, and a level of caution remains.
The home loan figures for Victoria will also tail off in H2 2020.
But elsewhere things have powered on through August and early September...
CBA sees a sharp rebound in Sydney prices by the middle of next year, driven by low mortgage rates.
But overall this was a thumping result which comfortably beat expectations.
