Home loans to owner-occupiers rose 1.3 per cent to $21.5 billion in February, eclipsing the November’s all-time high.
After rising in January, the national total for commercial financing in February fell 2.1 per cent to $42 billion, the lowest level since October, according to seasonally adjusted figures from the Australian Bureau of Statistics.
Commercial lending fell from $43 billion in January, back in line with December’s $42 billion, but still a significant six per cent lower than the recent highs of November last year,
At $21.5 billion, the value of owner-occupier loans, excluding renovations, stands at a record high and comes in the wake of the Australian Prudential Regulatory Authority’s March 2017 intervention in the home loan market, directed largely at investors.
Personal finance loans were steady at $6.3 billion in February, but lease finance fell 2.6 per cent to $536 million, following a fall of 6.3 per cent in January.
Revolving credit loans, where a business pays an initial fee and then dips into operating funds as needed, rose by 3.7 per cent to $2.4 billion, a 12 month high.