$2.5 billion drop in new housing loans in March 2018 quarter: APRA
APRA's release on ADI property exposures for March 2018 shows a $2.5 billion drop in new housing loans approved.
The quarterly Authorised Deposit-taking Institution (ADI) showed the number of housing loans picked up by 2.2 percent, while the average balance of housing loans also increased.
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ADI's with greater than $1 billion of residential term loans approved $382.1 billion of new loans in the year ending March 31 2018, a decrease of $1.6 billion on the year ending March 31 2017.
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Of these new loan approvals, owner-occupied loan approvals, were $259.9 billion, an increase of $10.2 billion from the year ending March 31 2017.
Investment loan approvals went backwards. They dropped by $11.8 billion to $122.2 billion.
$52.6 billion (14 percent) of the approvals had a LVR greater than 80 percent and less or equal to 90 percent.
Interest-only loans dropped significantly.
There were a total of $75.6 billion IO loans (20 percent), a decrease of $66 billion (46 percent) from the year ending March 31 2017.