ABS Update: Lending to households rises

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The value of lending commitments to households rose 2.6% in February 2019. This follows a 2.3% fall in January 2019.

Lending for owner occupier dwellings in New South Wales is still down over 20% from the peak of lending in August 2017, after recording an 8.2% monthly rise in lending commitments in February.

At the national level, the value of lending for owner occupier dwellings rose 3.4% in February, while lending for investment dwellings recorded a more modest rise of 0.9%.

The number of loans to owner occupier first home buyers rose 1.8 %, slightly higher than the number of loans to owner occupier non-first home buyers which is up 1.6%. Lending to households for personal finance rose 0.4% in February after a 1.2% rise in January.

The value of new lending commitments to businesses fell 2.4% in February with weaknesses across most of the business lending categories.

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