(Australian Associated Press)
Mortgage lending expanded in October, according to Australian Bureau of Statistics numbers indicating activity by owner-occupiers continued to outpace that of investors.
The total seasonally adjusted number of new lending commitments for property increased by 2.0 per cent to $18.21 billion in October, the ABS said on Tuesday.
The value of new commitments for owner-occupier dwellings rose by $13.11 billion – or 2.2 per cent – during the month, and have grown by 5.7 per cent over the past 12 months.
The value of investor lending commitments rose by 1.4 per cent or $5.1 billion during the month but fell by 9.7 per cent on an annualised basis.