Australia’s new home loans rise 1.4% q/q in Q4

THE value of new home loans in Australia rose in the December quarter as a rush of owner-occupier borrowing overwhelmed a dip in investment lending, data showed on Wednesday.

Figures from the Australian Bureau of Statistics showed total new home loans rose 1.4 per cent in the fourth quarter from the previous quarter, when they jumped 5.3 per cent. Loans to owner-occupiers rose 4.2 per cent, while lending to investors fell 2.9 per cent.

Total lending of A$87.2 billion (S$74.3 billion) was 16 per cent higher than the same quarter a year earlier. This is a new quarterly series from the ABS which replaces monthly data on loans. REUTERS