Investors account for 40 per cent of new housing finance
Investors continue to be the driving force behind the growth in the housing finance market. Over the past 12 months the share of housing finance going to investors has climbed from 36.5 per cent to 39.4 per cent.According to the latest Australian Bureau of Statistics housing finance data, the value of housing finance commitments rose 1.7 per cent in April (in seasonally adjusted terms), compared with the previous month.The market turned around, after falling 1.1 per cent in March.The monthly total of A$27.9 billion was 20.4 per cent higher than the total recorded in April last year.The value of loans to owner-occupiers rose 1.4 per cent in March, while the value of loans to residential property investors rose 2.3 per cent.The number of owner-occupier housing finance commitments was flat, month on month.Finance for the construction of new dwellings fell 1.5 per cent, after growing 2.1 per cent in March.The average loan size rose from $319,300 in March to $323,4000 in April.First-home buyer participation fell from 12.6 per cent in March to 12.3 per cent in April.