Home loan activity update. According to the recent research conducted by the Australian Bureau of Statistics (ABS), Australians are continuing to borrow funds to purchase a home. The latest data from ABS shows that its reached a historical high.
During November 2021, Australians proceeded with new loan commitments of $31.4 billion. This equates to an increase of 6.3% higher than the previous month and 33.2% higher than the previous year.
- Owner-occupier borrowings increased by 7.6% from the previous month while up 17.2% on the previous year
- Investors borrowed more increasing by 3.8% from the previous month but witnessed a significant jump of 86.9% on the previous year
Home loan activity is definitely trending high. If you’d like to meet a financial/mortgage specialise we can introduce you to someone who can help. It’s always important to get a clear understanding of your borrowing capacity before buying a property.
If you would like to learn about buying property, we provide some great content on both our Market Insights section our our YouTube channel.
While we have taken care to ensure the information above is true and correct at the time of publication, changes in circumstances and legislation after the displayed date may impact the accuracy of this article. If you want to learn more please contact us. We welcome the opportunity to assist you.
January 2022
