Most categories of home lending saw growth during July 2020 according to the ABS. The new data offers an early sign of the impact of the federal government’s HomeBuilder scheme.  The table below provides a snapshot of results:

July 2020 saw the number of owner occupiers housing loans increase by 12.9% compared to June. It is also 13.1% higher than the same period last year.

The HomeBuilder scheme was designed to increase new home building. At this early stage, the indications on this front appear positive. Loans to owner occupiers for the construction of a new home jumped by 21.6% in July. Activity here is also above where we were this time last year. 

Loans to owner occupiers for the purchase of newly-built dwellings rose by a more modest 10.0% during July. But this is 14.0% higher compared to a year ago.