According to Australian Bureau of Statistics lending data released yesterday, the value of new housing loan commitments fell 1.6 per cent in June, the first fall in monthly lending figures this year.
New loan commitments to owner-occupiers fell 2.5 per cent. Despite this, owner occupier commitments were 76 per cent higher compared to June last year.
The ABS said the biggest contributor to the fall in owner occupier loan commitments was a 17 per cent fall in the value of loan commitments for the construction of new dwellings. The HomeBuilder grant scheme was closed to new applications in mid-April.
The HomeBuilder grant was introduced in June last year, offering grants of A$25,000 for owner occupiers building a first home. The amount of the grant was cut to $15,000 at the start of the year.
New lending to first home buyers fell 7.8 per cent in June.
New mortgage lending to investors rose 0.7 per cent in June, compared with the previous month, and by 102 per cent over 12 months.