Home lending held steady in April, with a slight increase in the number of first home buyers taking out loans, according to the latest figures from the Australian Bureau of Statistics.
Housing Finance for April 2006, released this week, showed a bare 0.5 per cent decline in total lending for owner occupation from 59,752 loans to 59,459 loans. The proportion of first home buyers increased from 18.4 per cent in March to 19.1 per cent in April.
The number of owner-occupied housing commitments (seasonally adjusted) eased by 0.5 per cent (down 293) in April 2006 compared with March 2006, following a rise of 0.8 per cent in January 2006. The number of loans refinanced fell by 1.5 per cent, while the number of loans for construction declined by 1.6 per cent.
Loans for the purchase of a new dwelling were flat while loans for established dwelling (net of refinancing) were up by 0.1 per cent. The trend in the number of owner-occupied housing commitments rose by 0.3 per cent in April 2006.
Increases in the number of owner-occupied housing commitments (seasonally adjusted) in April 2006 compared with March 2006 were recorded in Tasmania (up 82, 6.6 percent), Western Australia (up 371, 24 per cent), New South Wales (up 340, 2 per cent), and Queensland (up 79, 0.6 per cent).
Decreases were recorded in Victoria (down 12, -0.1 per cent) and the Australian Capital Territory (down 114, -14.7 per cent). The number of loans held largely steady at 4,855 in South Australia. The trend increased in all states and territories except Victoria.
