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Household lending value up in June: ABS

Housing loan commitments rose in June, as coronavirus restrictions eased and normality returned to auction markets.

But the rebound belies the sharp falls in the months after the coronavirus crisis began.

The value of loans for new housing rose 6.2 per cent to more than $17 billion, seasonally adjusted, the Australian Bureau of Statistics reported on Wednesday.

“The rise in housing loan commitments in June reflects the easing of COVID-19 restrictions in May on auctions, open houses and mobility in general,” ABS Chief Economist Bruce Hockman said.

But despite this, the result was down by more than 10 per cent, compared to March after large falls in April and May.

New loan commitments to owner-occupiers rose 5.5 per cent to $13 billion, while the first homeowner segment increased 3.3 per cent.

Housing loans to investors surged by 8.1 per cent.

Fixed personal finance loan commitments were up 5.2 per cent, overwhelming supported by a 20.4 per surge in car and vehicle loan activity.

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