New Loans Pick up as Australian House Prices Continue to Grow

A ‘SOLD’ sign is seen outside a house in Canberra, Australia, on Dec. 8, 2021. (AAP Image/Lukas Coch) NO ARCHIVING

New Australian housing mortgage commitments rose 4.4 percent in December to a record high value of $32.8 billion (US$23.3 billion) as house prices in the country continue to climb.

The Australian Bureau of Statistics (ABS) revealed that it was driven by a 5.3 percent increase in the value of new owner-occupier loans.