The value of new loans granted for owner-occupied homes in Australia tumbled by 7.0 percent from the previous month to AUD 19.05 billion in July 2022, worse than market forecasts of a 3.0 percent fall and after a 3.3 percent fall in June. The slump was linked to falls in the construction of dwellings (-5.9 percent vs 2.2 percent in June), purchases of newly erected homes (-5.2 percent vs -2.7 percent), and purchases of existing ones (-7.4 percent vs -4.4 percent). Meantime, the value of new loan commitments for housing fell 8.5 percent to AUD28.4 billion in July, after a fall of 4.4 percent in June. "Although lending has fallen from historically high levels recently, the value of loan commitments remained significantly higher than pre-pandemic levels," said Katherine Keenan, ABS head of Finance and Wealth. "Owner-occupier loans in July 2022 were 40 percent higher than February 2020, while investor loans were 78 percent higher." source: Australian Bureau of Statistics
Home Loans in Australia averaged 11460.31 AUD Million from 2002 until 2022, reaching an all time high of 23437.40 AUD Million in May of 2021 and a record low of 5986.30 AUD Million in August of 2002. This page provides - Australia Home Loans- actual values, historical data, forecast, chart, statistics, economic calendar and news. Australia Home Loans - data, historical chart, forecasts and calendar of releases - was last updated on September of 2022.
Home Loans in Australia is expected to be 18500.00 AUD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Australia Home Loans is projected to trend around 18000.00 AUD Million in 2023 and 20000.00 AUD Million in 2024, according to our econometric models.