Growth in the housing finance market slowed in December, with a very small rise in total lending and a fall in loans to owner-occupiers.According to the latest Australian Bureau of Statistics housing finance data, the total value of housing finance commitments rose 0.2 per cent in December (in seasonally adjusted terms) - well below the month-on-month growth of 1.7 per cent recorded in November, and 4.1 per cent in October.Year-on-year, the value of housing finance commitments in December was 27 per cent higher than in December 2012 (the value of outstandings rose 6.5 per cent over the same period).The value of loans to owner-occupiers fell 1.5 per cent in December, while the value of investor loans rose 2.9 per cent.The number of owner-occupier housing finance commitments fell 1.9 percent.The average loan size rose from A$320,100 in November to $322,100 in December. The average loan was $308,300 in December 2012.There was a small increase in first-home buyer participation - up from 12.3 per cent in November to 12.7 per cent in December.Commonwealth Bank economist Michael Workman said in a note: "Periods of low interest rates in Australia generally produce solid rises in housing-related lending, prices and new construction. "The past year has been a little slower in its pick-up than previous housing upswing cycles but is showing the usual pattern. "A slightly unusual development is the dominance of investors and their desire for newly constructed dwellings."