Lending finance jumps by nearly a third

by AB24 Mar 2014
The Australian Bureau of Statistics released lending finance data for January which showed the total value of lending finance jumped by nearly a third in a year.

The total value of lending finance increased by 1.7% in January and was 28.3% higher in January 2014 than it was in January 2013.

Year-on-year, lending for owner occupier housing increased by 18.3%, indicating households and businesses have a greater willingness to borrow.

RP Data Property Pulse senior research analyst Cameron Kusher noted a distinct rise in investment lending, which accounted for 38.5% of all lending in January.

The proportion of activity by investors in the housing market currently is sitting at its highest levels since late 2003, the peak in housing market activity, he said.