The home loan market returned to growth in February, with first home buyers the most active segment of the market.
The latest ABS lending data show that the value of new housing loan commitments rose 1.5 per cent in February. This followed a 0.8 per cent fall in January and a 4.1 per cent fall in December.
The A$26.4 billion of new lending was up 13.3 per cent over the 12 months to February.
The value of new lending to owner occupiers was up 1.6 per cent month-on-month and up 9.1 per cent over 12 months.
New lending to investors was up 1.2 per cent month-on-month and up 21.5 per cent over 12 months.
The value of external refinancing rose 3 per cent to $16.6 billion month-on-month but was down 17.9 per cent over 12 months.
First home buyers borrowed $4.9 billion in February – an increase of 4.8 per cent over the month and 20.7 per cent higher over 12 months.
Average loan size fell from $615,178 in January to $598,624 in February.
The latest Reserve Bank data show that lenders’ mortgage balances grew by 0.4 per cent in February and by 4.2 per cent over the 12 months to February.
Owner occupier loan balances were up 0.4 per cent month-on-month and 4.8 per cent over 12 months.
Investor loan balances rose 0.2 per cent month-on-month and rose 3 per cent over 12 months.
APRA figures for February show that with system growth of 4.4 per cent annualised over the three months to February, ANZ continues to lead the big banks with growth at 1.6 times system during the three months, while Commonwealth Bank, NAB and Westpac are all growing at around 0.7 or 0.8 times system.
The market leaders over the three months included Suncorp Bank, which grew at 7.3 per cent annualised, Judo Bank (5.9 per cent annualised), ING Bank (5.8 per cent annualised) and Macquarie Bank (5.4 per cent annualised).