HOME LOANS RISE 11.7%, CAR LOANS 12.9%

The latest lending data show a big year-on-year increase in both home loans and car loans activity.

Property buyers throughout the country committed to $26.27 billion of mortgages in December 2023, according to the latest data from the Australian Bureau of Statistics, which was 11.7% higher than the year before.

That included a 7.4% rise in owner-occupier borrowing, to $16.77 billion, and a 20.4% rise in investor borrowing, to $9.50 billion.

Meanwhile, consumers took out $1.301 billion of loans to purchase motor vehicles, which was 12.9% higher than the year before.

 The increase in mortgage and car loan activity is unsurprising given that property prices are rising in many parts of the country and dealerships are selling record numbers of new vehicles.

 Whether you want to finance a property purchase or a vehicle purchase, I can help. Reach out so we can discuss your scenario and I can recommend how to proceed.

 Have a question?

Contact Amol from Juice Finance on 0435 040 986 or go to www.juicefinance.com.au and click ‘Get Started’ to find out more.