ABS: Home Loan Commitments Fall in May

  • Jul 09, 2020 AEST
  • Team Kalkine

As per latest ABS data, the value of new loan commitments for housing fell sharply by 11.6%, the largest fall in history, in May in seasonally adjusted terms. The figures showed:

  • Value of new loan commitments for owner occupier housing plummeted 10.2% while investor housing dropped 15.6%
  • Number of owner occupier first home buyer loan commitments fell 9.3%

ABS Chief stated that the fall was driven by a robust drop in the value of loan commitments for housing in New South Wales and Victoria. The value of new loans has plunged, refinancing has been soaring.

 

 


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