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The latest data from the ABS has revealed a continued upswing in housing finance activity, driven by first home buyers and investors.
The total value of dwelling commitments rose by 3.6 per cent in April to $21.547 billion, seasonally adjusted, to be up by 10.7 per cent on the same month last year.
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Investor finance rose by 8.9 per cent over the month to $5.497 billion, seasonally adjusted, while the proportion for first home buyers also continued to rise, albeit at a slower pace, to 28 per cent of all owner occupied deals.
While concerns about a property bubble developing at the bottom end of the market continue, this month’s figures showed the average first home buyer loan size dipped by $2,500 to $283,400.
This is still the second largest average first home buyer loan size on record however and more than $50,000 more than that recorded at the same time last year.
