Less owner-occupier mortgages were issued than expected in April but the total value of new home loans lifted slightly during the month.
The value of total mortgage lending – excluding refinancing – rose by 0.2 per cent in April to $17 billion, according to seasonally adjusted figures released Friday by the Australian Bureau of Statistics.
The number of new loans granted to owner-occupiers for April fell by 1.1 per cent, missing predictions of a flat result, but the value of owner-occupier loans outstripped expectations with a 1.0 per cent jump to $12.6 billion.
The value of new investor loans underwhelmed with a 2.2 per cent drop to $4.4 billion, missing consensus expectations of a one per cent value rise.
The value of both owner occupier and investor loans remains well down on a year ago.
Nonetheless, total lending to households and businesses was up by 6.1 per cent for the month to $67 billion, still 2.7 per cent down on a year ago.
Business lending in April surged by 11.3 per cent to $36 billion and lending for personal finance lifted 4.3 per cent to $4.8 billion.
The value of loans for refinancing dropped by 0.8 per cent to $8.9 billion
The Australian dollar fluctuated in both directions following the release but settled to 69.75 US cents at 1148 AEST.