Housing finance growth moderates in April

Growth in the housing finance market moderated in April, after strong growth in March.

According to the latest Australian Bureau of Statistics housing finance figures, the value of housing commitments rose 2.9 per cent in April, compared with the previous month (in seasonally adjusted terms).

The value of owner-occupied housing finance commitments rose 3.1 per cent in April, compared with the previous month.

The value of investor property finance commitments rose 2.6 per cent.

Lenders provided A$32.1 billion of housing loans in April, compared with $31.6 billion in March.

The April figures represented a moderation in growth. The value of new housing finance commitments rose 3.5 per cent in March, compared with February.

Among owner-occupier commitments in April, 44,903 were for established dwellings, while 5947 were for the construction of dwellings and 266 were for the purchase of new dwellings.

The average loan size rose from $347,800 in March to $357,500 in April.

First-home buyers accounted for 15.2 percent of dwellings financed.