
National home loans slip in Q1, still up 6% vs Q1 2024

Lending for dwellings eased in the March quarter of 2025, although total lending remained higher than in the same period last year, according to new figures from the Australian Bureau of Statistics (ABS). The number of new investment housing loans dropped by 3.7%, while new home loans for owner-occupiers fell by 3.4%. “March quarter’s overall fall in lending for dwellings followed strong growth through 2024 and remained higher (+6.0%) compared to this time last year,” said Dr Mish Tan, ABS head of finance statistics.Owner-occupier lendingA total of 79,890 new home loans were approved in the March quarter, marking a 3.4% decline - or 2,854 fewer loans - compared to the December quarter. The total value of these loans fell 2.5% or A$1.3 billion to $53.2 billion, while the average loan size decreased by $6,100 to $659,922. “While higher than this time last year, the 79,890 new home loans approved in the March quarter was lower than the pre-pandemic quarterly average of 84,405 loans between 2015 and 2019,” Dr. Tan added. Most states and territories recorded fewer loans, led by Queensland with a 2.5% drop, and Victoria with a 1.1% fall. Loan refinancing between lenders increased by 5.1% to 65,030 transactions, continu