The value of new loan commitments for housing fell 4.4 per cent in June 2022 (seasonally adjusted) but remained at a historically elevated level of $31.0 billion, according to data released today from the Australian Bureau of Statistics (ABS).
The ABS said: “The value of new owner-occupier loan commitments fell 3.3 per cent in June 2022, while new investor loan commitments fell 6.3 per cent. These falls followed rises in May, attributed to a clearing of application processing backlogs by lenders.
Elsewhere the total number of dwellings approved fell 0.7 per cent in seasonally adjusted terms in June, following a 11.2 per cent rise in May, according to data released today by the Australian Bureau of Statistics (ABS).The ABS, said “the decrease in the total number of dwellings approved in June was driven by a fall in approvals for private sector dwellings excluding houses, which dropped 5.7 per cent.”
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