Investors and first-home buyers continue to take out mortgages in growing numbers. Australians made $32.7 billion of mortgage commitments in April, according to the Australian Bureau of Statistics, an increase of 17.3% on the previous year. The owner-occupier share of those commitments rose 13.6% to $19.2 billion, while the investor share rose 22.9% to $13.5 billion.
In terms of market share, investors climbed from 39.4% to 41.3% and first-home buyers from 12.3% to 15.1%. Owner-occupiers made a total of 53,951 mortgage commitments in April, which was 3.5% more than the year before. Construction commitments declined 0.7% to 6,121. The average mortgage grew 10.5% to $357,500, while the average first-home buyer mortgage increased 11.3% to $334,800.