Investor mortgage lending falls
After recording surprisingly high levels of growth in February and March, new mortgage lending to property investors resumed its downward trajectory in April.According to the latest Australian Bureau of Statistics housing finance data, the value of new mortgage lending to property investors fell five per cent in April, compared with the previous month (in seasonally adjusted terms).The value of new lending to owner-occupiers rose 0.1 per cent in April, compared with the previous month.Overall, the value of new mortgage lending fell 1.8 per cent in April. Total new lending of A$31.9 billion for the month was 4.4 per cent lower than the same period last year.The average loan size was $361,500 - an increase of 1.2 per cent over the previous month.The value of outstanding housing loans financed by authorised deposit-taking institutions stood at $1.5 trillion in April - an increase of 0.5 per cent over the previous month. Of that total, $927 billion was finance for owner-occupiers and $530 billion was investment lending.