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Wednesday, 12 February 2020

Lending begins to flow

Homebuyers return

A strong 4.4 per cent increase for housing lending in December.

This cemented a robust rebound in lending flows since the election, mainly driven by owner-occupiers (+23 per cent).

Investment loans are also up +15 per cent since the election, but from a very depleted base. 

Since the election the rebound in home loans has been driven by New South Wales (+27 per cent), Queensland (+22 per cent), and Victoria (+21 per cent). 

First homebuyer numbers hit decade highs, even ahead of the rapid take-up of the deposit scheme in January. 

There was also a big jump in the average loan size to $500,000, but I'm less sure of the integrity of this data trend.