Investors are making a strong comeback, with the latest ABS lending data revealing nearly $12 billion in investment loans were issued in August.

This marks a 1.4% increase from the previous month and a 34.2% jump compared to August 2023.

Mish Tan, ABS head of finance statistics, says the value of investor loans is edging closer to its previous high from January 2022.

Owner-occupier loans also rose in August, increasing by 0.7% to $18.7 billion—16.8% higher than the same time last year.

Queensland led the way for investment loans, with new commitments up 7.9% for the month, followed by South Australia with a 5.1% increase. The ACT was the only other region to see a rise, up 0.4%.

In contrast, Tasmania saw a 9.1% drop, Western Australia fell by 8.3%, the Northern Territory declined by 8.1%, and Victoria by 2.7%. New South Wales remained unchanged from July.

“Queensland has surged by over 40% in the past year, with a $2 billion rise—more than any other state,” says Tan.