New home loans rose 3.7% in April to a new record high of $ 31 billion.
The value of new investor housing loans rose 2.1% to $ 8.1 billion in April, the highest level since mid-2017, the Australian Bureau of Statistics reported on Friday.
The value of new home owner loan commitments rose 4.3% to $ 23 billion in April.
This increase is explained by a 9.2% increase in the value of loan commitments for existing homes.
The value of homeowner loan commitments for the construction of new homes fell 11.4%.
It was the second drop since the HomeBuilder grant – which has now ended – was introduced in June 2020.
The ABS said an 8.6% increase in New South Wales and an 8.4% increase in Victoria accounted for most of the increase in homeowner loan commitments across the country.
At the same time, OA loan commitments fell 7.9%, following a 5.1% drop in March.
The Building Bonus Grant, which was offered in WA in addition to the Federal HomeBuilder Grant, is expected to end at the end of the year.
The value of new fixed-term personal finance loans increased by 4.8%, driven by personal investment loans which increased by 25.2% and for road vehicles which increased by 3.6% .
In the business sector, the volatile construction loan index fell 10.5%, while the value of loans for the purchase of real estate rose 27.8%.
Associated Australian Press