CANBERRA, AAP – Australians continue to show confidence in the economy by taking out a swathe of home loans during the final stages of 2020, building on the record high set in October.

Monthly lending figures released by the Australian Bureau of Statistics on Friday showed a 5.6 per cent increase in November.

The value of new home loans for owner-occupiers rose by 5.5 per cent to $18.3 billion, to be more than 31 per cent higher than a year earlier.

The ABS said federal and state government incentives and ongoing low interest rates contributed to the growth.