Fewer Aussies are getting mortgages as interest rates continue to rise, new figures show.
The Australian Bureau of Statistics (ABS) said the value of new loans for housing fell 8.2 per cent to $25.1 billion in September 2022.
It also dropped of 3.4 per cent in August, according to the data.
Katherine Keenan, ABS Finance and Wealth Spokesperson, said the value of new owner-occupier loans fell by 9.3 per cent in September, while the value of new investor loan commitments was down by 6 per cent.
However, home buyers appear to be borrowing more.
“Although housing lending has fallen for four consecutive months, the value of loan commitments in September remained well above pre-pandemic levels, Keenan said.
“Owner-occupier loans in September were 23 per cent higher than in February 2020, while investor loans were 60 per cent higher.”
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