Property Loans Up 19 Percent: ABS

An economist said the increase signifies a stabilising market confidence despite unchanged interest rates.

A roofer stands on the roof of a new home under construction in a new development in Albany, Western Australia, on April 15, 2024. Susan Mortimer/The Epoch Times

New loan commitments for housing rose year over year in June, with investor lending growth outpacing owner-occupier growth, Australian Bureau of Statistics (ABS) data showed.

According to the ABS, total new housing loan commitments rose 19.1 percent to $29.2 billion, with loan commitments for investor housing surging 30.2 percent to $11.0 billion.