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Australia's Total Loan Commitments for Dwellings Falls in June Quarter

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The number of total loan commitments for dwellings in Australia fell 5.4% to 134,225 in the June Quarter, data from the Australian Bureau of Statistics showed on Friday.

New owner-occupier home loans declined 3.3% to 81,626, with their total value falling 1.9% to AU$60.53 billion, while first home buyer loans decreased 2.9% to 29,319, and rose 0.2% in value to AU$18.38 billion.

"Lending fell across all borrower types this quarter and returned to similar levels to this time last year," said Mish Tan, the bureau's head of finance statistics.

Meanwhile, lending to investors fell 8.6% to 52,599. The total value of investment loans approved decreased over 10% to AU$37.12 billion.

Compared with the year-earlier period, total loan approvals rose 0.1% in the June quarter. New home loans were flat, while investor loans increased 2.8%.

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