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New loan commitments reach record high

New loan commitments reach record high
By Cameron Micallef
04 May 2021
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1 minute read
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Record-low interest rates are leading to record-high new loan commitments as investors and first home buyers flood the market, official figures have revealed.
The latest new loan commitment data released by the Australian Bureau of Statistics (ABS) showed that new loan commitments rose by 5.5 per cent in March 2021, hitting a record high of $30.2 billion.
Lending to investors accounted for more than half of the March rise in housing loan commitments.
The value of new loan commitments for investor housing rose 12.7 per cent to $7.8 billion in March 2021 (seasonally adjusted), 54.3 per cent higher than in March 2020. ....

Andrew Wilson , Cameron Micallef , Katherine Keenan , Nick Ward , Australian Bureau Of Statistics , Australian Bureau , ஆண்ட்ரூ வில்சன் , கேமரூன் மிக்களிலேப் , க்யாதரிந் கீநெந் , நிக் வார்டு , ஆஸ்திரேலிய பணியகம் ஆஃப் புள்ளிவிவரங்கள் , ஆஸ்திரேலிய பணியகம் ,

Home loan commitments reach new record levels: Australia

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The number of owner occupier first home buyer loan commitments fell 3.1 per cent to 15,623 in March 2021 (seasonally adjusted). Commitments remained at a historically elevated level and was 58.3 per cent higher than March 2020.
New South Wales, Victoria and Queensland accounted for most of the rise in investor housing loan commitments and there were rises in all states and territories except the Australian Capital Territory.
Owner occupier housing loan commitments rose in the largest states but generally fell in the smaller ones. An 8.2 per cent rise in New South Wales accounted for most of the national rise, while Victoria rose 1.6 per cent and Queensland rose 1.1 per cent. ....

Australian Capital Territory , Katherine Keenan , Australian Bureau Of Statistics , Australian Bureau , South Wales , Australian Capital , New South Wales , Jobs Data , New South Wales , First Home Buyer , Record High , Home Buyer , ஆஸ்திரேலிய மூலதனம் பிரதேசம் , க்யாதரிந் கீநெந் , ஆஸ்திரேலிய பணியகம் ஆஃப் புள்ளிவிவரங்கள் , ஆஸ்திரேலிய பணியகம் , தெற்கு வேல்ஸ் , ஆஸ்திரேலிய மூலதனம் , புதியது தெற்கு வேல்ஸ் ,

Australian borrowers signed on for a record $30.2 billion in home loans in March as property prices skyrocketed

The value of new home loan commitments shot to a record high of $30.2 billion in March, the Australian Bureau of Statistics reports.
Investor lending spiked 12.8% over the month to $7.8 billion, as Australia’s housing market continued its jaw-dropping run.
Loan commitments for housing construction fell 14.5%, as the $2.5 billion HomeBuilder scheme drew to a close.
Australian homebuyers signed on for a record $30.2 billion in new lending in March, as some housing markets soared to never-before-seen highs.
New data from the Australian Bureau of Statistics (ABS) shows owner-occupiers alone made $22.4 billion of new loan commitments over the month, a 3.3% increase from February, and a 55.6% jump from March 2020 levels. ....

Katherine Keenan , Australian Bureau Of Statistics , Australian Bureau , Business Insider Australia , Federal Government , Tim Lawless , க்யாதரிந் கீநெந் , ஆஸ்திரேலிய பணியகம் ஆஃப் புள்ளிவிவரங்கள் , ஆஸ்திரேலிய பணியகம் , வணிக உள் ஆஸ்திரேலியா , கூட்டாட்சியின் அரசு , நேரம் சட்டவிரோத ,

RBA holds rates in May, lifts key economic forecasts

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The Reserve Bank of Australia has forecast higher inflation and economic growth and for unemployment to fall to a 2008 low of 4.5 per cent next year, but it is insisting record low interest rates will remain in place for another three years to drive up wages growth.
The bank is likely to upgrade its wage growth forecasts in its quarterly statement on monetary policy on Friday and has acknowledged the surge of investors in the heated property market after lending to that market jumped 12 per cent in March, its largest rise since 2003.
The RBA has acknowledged the property market is heating up. ....

Western Australia , New South Wales , Katherine Keenan , மேற்கு ஆஸ்திரேலியா , புதியது தெற்கு வேல்ஸ் , க்யாதரிந் கீநெந் ,

Return of investors pushes new home loans to record high

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Surging investor lending, which rose at its fastest pace in almost two decades, has pushed Australia’s booming residential market out of regulators’ comfort zone and made macroprudential controls more likely, economists said on Tuesday.
New data showing home loan commitments to investor buyers jumped 12.7 per cent from February, the fastest increase since July 2003, to a seasonally adjusted monthly total of $7.8 billion, were “enormous” numbers and challenged the picture of a market solely driven by owner-occupiers, JP Morgan economist Tom Kennedy said.
An investor, rather than an owner-occupier buyer bought the 273sq m top-floor apartment in Fortis’ planned Colindia development in Neutral Bay for $6.5 million. ....

Katherine Keenan , Australian Bureau Of Statistics , Australian Bureau , க்யாதரிந் கீநெந் , ஆஸ்திரேலிய பணியகம் ஆஃப் புள்ளிவிவரங்கள் , ஆஸ்திரேலிய பணியகம் ,